In the second quarter, Meta generated $59.36 billion in advertising revenue, up 27%, compared to $63.27 billion for Google Search, up 17%. The gap between the two giants narrowed to $3.9 billion, down from nearly double that amount last year. Meta delivered 14% more ads while raising prices by 12% per unit. Bernstein analyst Mark Shmulik estimates Meta could surpass Google Search this year. Yet Wall Street remains cautious: Meta lacks a cloud segment like Alphabet, whose Google Cloud generated $24.8 billion, up 82%.
Source: Read the original article
