Predicate logic: scope of quantifiers and bound variable

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I'm having a little trouble understanding the below predicate formula:

$$\exists x P(x, y) \rightarrow Q(x) $$

So if I understand it correctly, the scope of the existential quantifier is $P(x,y)$.

Anything variable that is within the scope of a quantifier or right next to the quantifier symbol, as is the case of x. It is bound. Is this correct?

If so, y is in the scope of $\exists x$ right? Or is it not, because the quantifier is just concerned with the x variable?