Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) second-quarter financial results were enlightening. A 21% year-over-year increase in total revenue and a 42% rise in Alphabet's "other" revenue during the same period proved the online search giant's growth story is far from over.
But there's more useful insight to glean from the quarter than Alphabet's latest financial figures. The company's second-quarter earnings call was packed with more information about Alphabet. Here are the can't-miss quotes from the conference call (via an S&P Global Market Intelligence).
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YouTube is a behemoth
Alphabet management again cited YouTube (along with mobile search) as one of its two major growth drivers during the quarter. But Google CEO Sundar Pichai also detailed some of the metrics that are making YouTube so key.
If you were to classify YouTube as a social network, at 1.5 billion monthly users, it's now the world's second-largest social network, second only to Facebook.
There's more growth ahead for YouTube
Despite YouTube's already impressive viewing time metrics, Pichai says there is still a lot of room for growth. He named three catalysts for further growth: mobile, television, and emerging markets.
Here's how to assess Alphabet's "other" revenue segment
One analyst asked for further insight into the revenue trajectory of Alphabet's other revenue segment. Though the segment's revenue was up 42% year over year, it was about flat sequentially, breaking from the segment's recent norm of year-over-year and sequential growth.
But CFO Ruth Porat explained that the segment is best viewed on a year-over-year basis.
Betting on the long-term trend of computer vision
Asked about Alphabet's emphasis of visual search at this year's Google I/O conference through the company's introduction of Google Lens (machine learning to examine photos through a smartphone camera in order to help complete tasks), Pichai seemed to get excited.
Google Lens technology will begin rolling out to users in the fourth quarter, Pichai said.
Overall, Alphabet's second-quarter conference call reinforced the company's ongoing story of sustained growth and innovation.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Daniel Sparks owns shares of Facebook. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool has a disclosure policy.