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People stuck at home in lockdowns and restrictions used more of Alphabet’s services, especially Google record, in the first quarter as a result of the pandemic.
In the three months leading up to March, revenue from advertising swelled by a third, resulting in a 162% increase in net profit to.
With Google facing increased scrutiny over its power and the pandemic taking place, more people are turning to the online world.
Google record praise their own
The firm credited “elevated consumer activity online” for its results.
“Over the last year, people have turned to Google Search and many online services to stay informed, connected and entertained,” said Alphabet and Google chief executive Sunder Piche.
Economic recovery around the world has prompted more spending on internet advertising as a result of analysts’ expectations.
The quarter saw Google earn record search revenue jump by 30% to $31.9bn, while YouTube sales jumped 49% to bn.
Sophie Lund-Yates, an equity analyst at Hargreaves Lansdown, said Alphabet had “lapped up the rewards from the pandemic like a big cat pouncing on cream.
While famous for its start-up culture and offices, this tech giant is, rather unspectacularly, an advertising business, Covid means phenomenal sums of money have shifted to online shopping, so Alphabet’s impenetrable family of digital advertising businesses have seen revenue skyrocket.”
The technology giant’s only obstacle is the continued regulation of such issues as competition and privacy.
A recent dispute involving Google arose from an action taken by Roku, a streaming TV technology company, on Monday when it claimed Google earn record used anticompetitive tactics to serve its YouTube and hardware businesses.
It is not the first time that the tech giants are accused of discriminatory behavior. Despite ongoing discussions with European and US regulators, legislation to tighten oversight of Google and other tech giants has not yet been achieved.