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. Google ad sales jumped 32 per cent in the first quarter compared with a year ago, above expectations of analysts tracked by Refinitiv. Alphabet's quarterly profit was $17.9 billion, or $26.29 per share, beating estimates of $15.88 per share and topping its previous-high of $15.2 billion last quarter. Alphabet in 2020 suffered its slowest sales growth in 11 years but posted record profit and boosted its cash hoard by $17 billion after slowing hiring and construction. AD REBOUNDGoogle's ad business, the global market leader as measured in sales, accounted for 81% of Alphabet's first-quarter revenue.

Source: Standard Digital April 28, 2021 08:01 UTC