Google’s parent firm Alphabet Inc. more than doubled its net income in the first quarter of the year as a boost in online activities drove sales upward, it announced in a statement.
- Net income grew 162.28% to $17.930 billion from $6.836 the previous year, while diluted earnings per share rose to $26.29 from $9.87.
- Revenues jumped 34% to $55.314 billion from $41.159 billion.
- Google and Alphabet Chief Executive Officer Sundar Pichai said people have turned to Google Search to stay informed, connected, and entertained.
- Google and Alphabet Chief Finance Officer Ruth Porat said the results reflect elevated consumer activity online and broad based growth in advertiser revenue.
- Revenues from Google Search rose to $31.879 billion from $24.502 billion, while YouTube advertisements climbed to $.6005 billion from $4.038 billion.
- Revenues from Google Cloud grew to $4.047 billion from $2.777 billion, as businesses accelerated their digital transformations.
- The company grew its workforce to 139,995 in the first quarter from 123,048 the same period in 2020.
GOOGL:Nasdaq is up 5.01%