Alphabet, which owns Google, has released financial results for the first quarter of 2021. The holding’s revenue increased by more than 34% and amounted to $ 55.31 billion. Net profit increased 2.5 times to $ 17.93 billion, a year earlier this figure was $ 6.84 billion.
Alphabet’s advertising revenue grew by almost a quarter in the first quarter – from $ 33.76 billion to $ 44.68 billion. Google’s revenue increased to $ 31.88 from $ 24.5 billion a year earlier.
YouTube’s advertising revenue grew 49% – from $ 4.04 to $ 6.01 billion. The growth driver was e-commerce advertising.
Google Cloud services revenue grew 46% to $ 4.05 billion.
The company’s revenue exceeded analysts’ expectations. After the release of the report, Alphabet shares soared 4.5%.
Recall earlier Google published search statistics that allows you to understand how the world has changed a year after the start of the pandemic.
A source: Alphabet report