YouTube powered up advertising revenue to a whopping $6 billion in the first quarter of 2021, up 49% from the year-earlier period. Alphabet, Google’s parent company, trounced Wall Street
Alphabet’s strong growth for Google and YouTube — all the more impressive on already-massive numbers — showed that the internet giant is continuing to ride tailwinds of the pandemic-fueled shift to digital services.
Overall, Alphabet posted revenue of $55.31 billion and net income $17.93 billion (or diluted earnings per share of $26.29). Analysts on average had expected Alphabet to report Q1 revenue of $51.68 billion and earnings of $15.88 per share.
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In announcing the results, Sundar Pichai, CEO of Google and Alphabet, said: “Over the last year, people have turned to Google Search and many online services to stay informed, connected and entertained. We’ve continued our focus on delivering trusted services to help people around the world. Our Cloud services are helping businesses, big and small, accelerate their digital transformations.”
More to come.