Google’s advertising business has in no way taken its toll on the coronavirus pandemic . Quite the contrary. COVID-19 is having a kind of soothing effect on the internet giant.
In the period between January and March 2021, Alphabet, the parent company of Google , increased its turnover by 34% to 55.3 billion dollars (45.7 billion euros). Such a notable rebound was due to the increase in consumer online activities, says Ruth Porat, CFO of Alphabet.
To the Encouraging Figures
Ut on the table by the Mountain View company in the first quarter of the year , advertising investment contributed to the rise in the retail Sweden B2B list industry and also in the tourism sector , which is already preparing for a more than notable relaxation in the underhanded restrictions to the coronavirus.
On the profit side, Alphabet ‘s profit climbed to $17.9 billion (up from $6.8 billion a year ago). And 4.75 billion of this hefty amount came from investment in startups from Google’s parent company. The company is involved, for example, as an investor in online payment platform Stripe , which was valued at $95 billion in its latest funding round. At Google, to whom practically all of Alphabet’s business is indebted, revenue from the famous search engine hit a 30% stride to almost 32,000 million dollars.
Google’s Latest Quarterly Results Beat Analysts’ Initial Expectations
For its part, YouTube put on the table an amount of 6,000 million dollars , approximately 50% more than in the first quarter of 2020. During the pandemic, the time people spend on YouTube and other video platforms has increased considerably. Today, YouTube has 2,000 million monthly active users. And more than 1,000 million hours of video are played on its platform every day. For its part, YouTube Shorts, the replica of Google’s video subsidiary to TikTok. Already accounts for 6.5 billion views every day.
For its part, the business in the cloud starred in growth of 46% to 4,000 million dollars. Although it also had to deal with operating losses of 974 million dollars. In the “others” division of Alphabet (devoted to promising ideas but still orphans of sufficient development. Autonomous cars or “delivery” drones) turnover jumped 47% to 198 million dollars. However, in this area of activity operating losses also increased from 1,120 million to 1,140 million dollars.