Alphabet publishes strong results as Google, YouTube Ads Rebound

Google parent company Alphabet announced Thursday that its earnings rose to $ 11.2 billion (around Rs. 83,300 billion) in its most recent quarter, beating expectations as ad spend rose again after the pandemic.

The money from cloud computing offerings and from the Google Play shop for smartphones with Android software also helped drive revenue for the quarter up 42 percent to $ 46.2 billion (approximately Rs.3.44,802 billion). rose.

“We had a strong quarter in line with the broader online environment,” said managing director Sundar Pichai.

Ruth Porat, CFO, said blockbuster revenue for the quarter was driven by an increase in ad spend on Google’s search engine and video streaming platform YouTube.

Alphabet has spent years evolving YouTube from its roots as free video sharing to an online television platform that rivals titans like Netflix and Amazon Prime.

“We expected Google’s advertising revenue from search, YouTube and network members to recover (for the quarter), and all three segments exceeded our expectations,” said eMarketer analyst Nicole Perrin.

She said the gains were particularly pertinent to YouTube and indicated “notable increases in political ad spending during the quarter”.

Revenue from Google’s cloud computing business soared nearly 50 percent to $ 3.4 billion (approximately Rs.25,369 billion) as the pandemic fueled the trend towards working, gaming, shopping and learning online.

Alphabet shares rose more than 8 percent in after-hours trading before giving up some of the floor.

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