The results provided by Google’s owners were much better than analysts expected.
Alphabet, the parent company of search engine giant Google, released data for the first three months of this year on Tuesday night.
According to data from market research firm Factset, analysts expect its revenue to be $51.4 billion and adjusted earnings per share to $15.70.
The company’s chief financial officer Ruth Porat (Ruth Porat) pointed out in the report that the increase in online consumer activity and the widespread growth of advertising revenue.
She is very satisfied with the development momentum of Google Cloud, the company’s fourth-quarter revenue was 4 billion US dollars.
In contrast, advertising revenue on Youtube accounted for $6 billion in revenue during this period.
CNBC Pointed out that Youtube has always been one of the winners of social media in the corona crisis.
In Wall Street trading, Alphabet’s stock price rose about 4%.