Google’s father or mother firm, Alphabet, mentioned on Tuesday that income in its most up-to-date quarter elevated sharply from the identical interval a yr in the past, boosted by sturdy demand for internet advertising on its search outcomes and YouTube movies and by continued development at its cloud computing arm.
Alphabet posted income of $55.31 billion, up 34 % from a yr earlier, and web revenue greater than doubled to $17.93 billion within the first quarter. The outcomes got here in above analysts’ expectations.
Like the opposite know-how conglomerates, Alphabet has thrived through the pandemic. After a pullback in travel-related promoting through the first few months of the pandemic, Google’s promoting enterprise has rebounded strongly, with companies concentrating on customers who’re spending extra time on-line.
Google’s cloud computing enterprise has continued to scoop up prospects through the pandemic as firms have moved extra of their knowledge and work into centralized knowledge facilities in an effort to save cash and turn into extra digitally nimble. However Google continues to be a distant third to Amazon and Microsoft within the cloud enterprise. Income on the cloud enterprise grew 46 %, whereas its losses narrowed to $974 million within the first quarter.