What pandemic? Alphabet earnings soar on ad spending jump, with a cloud kicker
SHARE Cloud computing again helped drive much higher-than-expected revenue in Alphabet Inc.’s first-quarter results reported today, but advertising really stole the show this time. The parent company of Google LLC earned a profit of $17.9 billion, or $26.29 a share. That was up nearly threefold from a year ago, setting a new record high for quarterly sales as people quickly shifted to buying more online and advertisers followed them. Gross revenue excluding traffic acquisition costs of $9.71 billion rose 34%, or 32% in constant currency, to $55.3 billion, and net revenue rose to $45.6 billi...
Source: siliconangle.com