Tech News

Alphabet records big profits as revenue grows

Pinterest LinkedIn Tumblr

Informed Alphabet reported explosive growth in the first quarter of 2021, with revenues of $ 55.31 billion, or nearly $ 56.9 billion, which it generated in the fourth quarter of 2020, along with $ 17.9 billion in profits compared to $ 15.2 billion.

There was also a 34 percent increase in revenue year-on-year, Google Cloud revenue of $ 4.05 billion, and YouTube advertising revenue of $ 6.01 billion.

Google’s revenue increased 34 percent from the same period the previous year, and the company reported ad revenue of $ 44.68 billion in the first quarter.

This number represents a significant increase from $ 33.76 billion in the same quarter last year, making it the fastest annual growth rate in at least four years.

YouTube ads reached $ 6.01 billion during the quarter, up 49 percent from last year, and became the platform that benefited the most from the epidemic compared to other social media sites.

The video platform saw usage increase from 73 percent of adults in the United States in 2019 to 81 percent in 2021.

Alphabet said Shorts videos are getting 6.5 billion views per day, a significant increase from 3.5 billion at the end of January.

Google Cloud revenue grew 46 percent year-on-year to $ 4.05 billion, and Google Cloud includes data analytics platforms, infrastructure and collaboration tools, such as documents, spreadsheets, and other services for enterprise customers.

Alphabet also recorded a gain of $ 4.84 billion in the third quarter in the value of some investments.

The company’s other betting segment, which includes Verily’s health technology unit and Waymo, lost about $ 1.15 billion on revenue of $ 198 million.

It is difficult to know how Google devices do business because Alphabet collects them in the Google services category, which includes YouTube, search, ads, Chrome, and Android software revenue.

Have an article/sponsored post to share? Whatsapp: +2348129656985.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Pin It