By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
eBusiness Life MagazineeBusiness Life Magazine
  • Home
  • NewsBytes
  • Big Issues
  • Columns
  • Cyberparenting
  • Tech Talk
  • Gadget Review
  • Interviews
  • Our People
Notification Show More
Font ResizerAa
eBusiness Life MagazineeBusiness Life Magazine
Font ResizerAa
  • Categories
  • More Foxiz
    • Blog Index
    • Sitemap
Follow US
eBusiness Life Magazine > Blog > NewsBytes > Alphabet Profit Boosted By Pandemic-Easing Measures
NewsBytes

Alphabet Profit Boosted By Pandemic-Easing Measures

ELadmin1
Last updated: 2021/04/29 at 8:52 PM
By ELadmin1
Share
2 Min Read
SHARE

…Plans $50 Billion Buyback

Google parent Alphabet Inc on Tuesday reported record profit for the second consecutive quarter but warned a surge in usage and ad sales during the pandemic may slow as people resume in-person activities.

With online consumer activity remaining elevated in the first quarter, Alphabet beat analysts’ revenue estimates and nearly surpassed the sales record it set in the fourth quarter.

Alphabet pointed to elevated consumer activity online as a major factor behind record net profit in Q1, with Google’s advertising business surging following increased spending from companies as global economies open up.

Ad imageAd image

Separately, Alphabet announced a $50 billion share buyback programme.

CFO Ruth Porat used Alphabet’s earnings call to explain the strong financial results reflected the impact of Covid-19 (coronavirus) on its business beginning in March 2020, along with broad strength in advertising.

“It is too early to say how durable this consumer behaviour will be as economies recover and restrictions on mobility are lifted,” she added.

Google posted a record $17.9 billion net profit, up 162 per cent year-on-year, on revenue of $55.3 billion, 34 per cent higher.

Advertising was the main driver of revenue, increasing from $33.8 billion in Q1 2020 to $44.7 billion, with YouTube ads up from $4 billion to $6 billion.

Revenue from Google Cloud followed the trend, increasing from $2.8 billion to $4 billion. Other Bets, which includes health unit Verily and automated vehicle business Waymo, went from $135 million to $198 million.

Its non-search business, covering Android marketplace and hardware including Pixel phones and its Home smart speakers, grew 46 per cent to $6.5 billion.

ELadmin1 April 29, 2021 April 29, 2021
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get Started
Additive Manufacturing Making Impact on Digitalization, More Sustainable Workflows – Study

With 3D printing making an impact on the digitalization of manufacturing and…

NCC Cautions MNOs Over Interconnection Agreements Default

… Lifts Phased Disconnection Mandate Against Globacom In a bid to protect…

Infrastructure Financing: AfDB And InfraCredit Sign $15 million Funding Agreement

The African Development Bank (AfDB) and Infrastructure Credit Guarantee Company Limited (InfraCredit)…

Moniepoint, NITHub Unilag Kicks Off 2nd Cohort Of HatchDev Programme 

Moniepoint Inc, Africa's top digital financial services provider, in collaboration with University…

Stakeholders Seek Ways To Mitigate Telecom Fibre Cuts

The Association of Telecommunication Companies Of Nigeria (ATCON) has highlighted fibre cuts…

Konga Health, L’Oréal Partner to Raise Personal Care Awareness with Discount Campaign
May 22, 2025
Canal+ MultiChoice takeover A Step Away From Final Approval
May 22, 2025
Intellectual Property: Temu Signs MoU With IACC, Joins Advisory Council
May 22, 2025
Despite Knowledge Gap, Marketing Leaders See Strong Potential In gTLDS – New ICANN Research
May 22, 2025
Containerized Infrastructure With Exposed Docker APIs At Risk Of New Cyber Attack – Kaspersky Alert
May 22, 2025

You Might Also Like

NewsBytes

Konga Health, L’Oréal Partner to Raise Personal Care Awareness with Discount Campaign

By Ebusiness Life
NewsBytes

Canal+ MultiChoice takeover A Step Away From Final Approval

By Ebusiness Life
NewsBytes

Intellectual Property: Temu Signs MoU With IACC, Joins Advisory Council

By Ebusiness Life
NewsBytes

Despite Knowledge Gap, Marketing Leaders See Strong Potential In gTLDS – New ICANN Research

By Ebusiness Life
Facebook Twitter Instagram
Company
  • Advertisement
  • Privacy Policy
  • Editorial Policy
  • Contact US
More Info
  • Newsletter

Sign Up For Free

Subscribe to our newsletter and don’t miss out on our latest reports

Join Community

Copyright 2023. Designed by Kreative TechPoint

adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?