Digital ad rebound continues, as YouTube, Snapchat, Amazon revenues hit new heights

Celeste Huang

An overview of the latest Q1 2024 earnings from major Big Tech companies.

Snapchat and Amazon both reported record advertising revenue gains in the first quarter of 2024. Spend with YouTube leapt 21% year-on-year, as Alphabet profited from new ad formats, AI innovations and APAC-based investment surge – a similar cheer that Meta shares. Meanwhile, the race for AI supremacy has intensified, with companies doubling down on investment. 

Read each company analysis below. 

Alphabet

Advertising revenue for Alphabet grew 13% year-on-year, reaching $61.7bn in Q1 2024. Its search revenue increased by 14% to $46.2bn. AI monetisation through Ads, Cloud, and subscriptions are highlighted in its latest earnings. 

Posting an impressive 21%...

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