This is a testament to strategic areas where we have invested over recent years: products that people trust; our technical leadership and innovation; deep partnerships; a highly skilled workforce; and the scale and resilience of our operations. As I discussed last quarter, much of our expense base, both in cost of revenues and opex is not directly correlated with changes in revenues. Your line is now open. None of it would be possible without the herculean efforts from Googlers around the world. I would say that following a rough end to the first quarter, ads revenue gradually improved in the quarter, not only in Search, but YouTube and Network and so for Search, we ended March at a mid-teens percentage decline in year-on-year revenues and then as we progressed through the second quarter, we saw a gradual return in user search activity to more commercial topics and then that was followed by an increase in spending by advertisers.
We generated $21.3 billion in revenues in the quarter, down 10% year-over-year in the aggregate with improvement as the quarter progressed.
We provide more detail on the line items within OI&E in our earnings press release. Cut through the noise and hear directly from company executives about their company's performance. And then the second one, Ruth, I know, as we sort of we look ahead with potentially a larger percentage of the workforce work remote or work from home without looking for quantification, maybe just talk to us about some puts and takes or areas where you could see either efficiency or higher potential costs from a larger percentage of the workforce being remote over the long-term. Newburgh, IN 47630
And our next question comes from Colin Sebastian from Baird. To put it into perspective, in the U.S., coronavirus-related search activity at its peak was four times greater than during the peak of the Super Bowl. So we are focused on that.
Thanks. So, overall I felt the momentum was strong. Q1 was in many ways the tale of two quarters. We know you'll continue to invest to drive growth over the long-term. Institutions like Lloyd's Bank are digitally transforming their businesses and we are helping even more businesses do the same through new partnerships with Accenture, AT&T, and T-Systems. YouTube subscriptions continue to grow.
Overall, I think there are, I wouldn't -- I don't know whether there's anything significant worth me highlighting. Thank you so much. One, Sundar, I was wondering if you could share with us how you've seen the change in pace of customers migrating workloads to the Cloud given COVID and I'm also wondering if you could share with us kind of the puts and takes and Microsoft talked about this a little bit last week with their Azure business, but for those that have accelerated workload migration to the cloud, how much has that offset the impacted industries or companies that you might be serving where they are seeing lower utilization than what they normally do of cloud capacity. Listening to earnings calls is now as easy as listening to your favorite podcasts.
This article is a transcript of this conference call produced for The Motley Fool. Thanks, Heather. GOOG Stock | Alphabet Q2 2020 Earnings Call. If we strip out travel, I'm guessing it's well above that.
We ended the quarter with cash and marketable securities of approximately $121 billion. Maybe two if I can for Sundar. We made several big announcements at I/O, YouTube's Brandcast, and Google Marketing Live. Google operating income was $7.6 billion, down 26% versus last year and the operating margin was 20%. First, creating the most helpful products for everyone, particularly at a time where people rely on us for information, work, education and entertainment. Thanks, Sundar. Turning to capex, we continue to expect a modest decrease in the level of total capex in 2020 compared with last year. Just first, Ruth, curious if you can just talk about the cost structure a little bit more. A reconciliation of non-GAAP to GAAP measures is included in today's earnings press release, which is distributed and available to the public through our Investor Relations website located at abc.xyz/investor. I’ve been proud of all of these efforts and what they say about our company. Third, I’ll talk about our business—especially our advertising business which was significantly impacted in the last few weeks of the quarter. A return to normal economic activity depends on how effectively societies manage the spread of the virus. This is true across most of our advertising verticals and geographies. I also spent some time on the call sharing observations about the patterns we’re seeing from the first pandemic of the digital era. To make collaboration easier for everyone, we introduced an integrated workspace for Gmail, Chat, Meet and Drive on mobile and desktop.
Obviously, I think as a company, our strength comes from the diverse categories in which we serve users right and it's not just product, its services, it's wide areas including areas like travel. Waymo raised $2.25 billion in its first external investment round, a terrific validation of their technology and long-term business model.