Alphabet is making record profits thanks to Google ad sales


alphabet, the parent company of search engine Google, announced record results for the first quarter ended March 31 in its latest financial results.

The company posted net income of $ 17.93 billion, a huge jump from the $ 6.84 billion it reported around the same time last year. Alphabet’s revenue grew 34% year over year from $ 41.2 billion to $ 55.3 billion.

Alphabet is making record profits thanks to Google ad sales
Alphabet is making record profits thanks to Google ad sales

I’m looking for Google made up the bulk of its revenue, posting revenue of $ 31.9 billion in the first quarter. Search posted revenues of $ 24.5 billion in the first quarter of last year.

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“Over the past year, people have turned to Google search and many online services to stay informed, connected and entertained,” said Sundar Pichai, CEO of Alphabet, in a statement. “We continue to focus on providing reliable services to help people around the world.”

YouTube ad revenue increased 49% year over year to $ 6 billion in the first quarter of 2021, according to the company’s latest financial results. Overall, Google advertising (including YouTube and search ads) generated $ 44.7 billion in revenue, which is more than 80% of Alphabet’s revenue.

Alphabet CFO Ruth Porat added that “total first quarter revenue of $ 55.3 billion reflects high online consumer activity and broad ad revenue growth.”

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