With the development of the pandemic, Google and its parent company Alphabet continue to maintain its development trend, which is definitely a successful initiative. Revenue in the first quarter of 2021 was US$55.314 billion, a staggering 34% increase over the same period last year.
Perhaps more importantly in terms of investment, Google surpassed analysts’ expectations for its performance, with earnings per share of $26.29, and expectations for earnings per share of $15.82. This is the news of selling more stocks. In fact, Google has gained an impressive 4% in after-hours trading.
Since Google’s revenue in the last quarter was also impressive, and the revenues of other companies focused on Web services were also impressive, it doesn’t take a genius to find an economic winner who transitions to remote work for a year.
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Ads on Google search and YouTube continue to drive most of Google’s profit growth. The search brought in 31.9 billion US dollars, an increase of 30.2%, which is impressive. YouTube advertising jumped from US$4.04 billion to US$6.005 billion, an increase of 48.6%. Google Cloud (including its Workspace suite) revenue jumped from $2.77 billion to $4.05 billion.
Although Cloud is still at a loss, this is a shocking leap. In a year in which many companies have consolidated their employees, Google has added nearly 17,000 new employees globally, totaling 139,995.
Taking costs, expenses, and investment into account, Alphabet’s net profit for the quarter was US$17.93 billion, higher than the US$6.84 billion in the same period last year. In less noble terms: Google’s revenue is much higher than before.
(Via)
