The search giant’s parent company, Alphabet, reported revenues of $55.3 billion for the first three months of the year — a 34% jump from the same period last year — and made close to $18 billion in profit, comfortably blowing past analyst estimates. The company’s stock jumped nearly 4% in after-hours trading on Tuesday.
Google’s cloud business, which the company has increasingly leaned on to diversify from its core advertising revenue, trimmed its losses to $974 million from $1.7 billion in the same quarter last year. Revenue from cloud increased 46% year over year, to $4 billion.
“Our Cloud services are helping businesses, big and small, accelerate their digital transformations,” Pichai added.
All news and articles are copyrighted to the respective authors and/or News Broadcasters. LC is an independent Online News Aggregator
Read more from original source here…