Google, which has become the lifeblood of advertising, uses it very well. Despite lawsuits in many countries, the firm is generating record net revenues.
Alphabet, which is the roof company of the search giant Google, has once again been one of the companies that benefited from the pandemic. In the first quarter of the new year, it managed to achieve a growth well above expectations.
The fact that the people who shut down their homes during the pandemic are more involved with the internet, it helps Google. Alphabet’s revenue in the first quarter of the year amounted to $ 55.3 billion, with an increase of 34 percent. The expectation was around 25 percent. While the net income of the company was 17.9 billion dollars, it increased more than 2 times and achieved the biggest increase in recent years.
Revenue from the Google search engine was $ 31.8 billion, YouTube ads $ 6 billion, and the segment with services generated $ 6.5 billion. Google services brought a total of 51 billion dollars, while the cloud division brought in 4 billion dollars.
Along with the financial statements, Alphabet shares are on the rise, while a straight line is expected to be followed in the next quarter. With vaccination, many areas return to normal, and Google will make the most of it.