Google makes the most money for Alphabet

Alphabet, the parent company of major tech corporation Google, just yesterday reported that the giant’s revenue was $ 55.3 billion over the past three months.

This figure, as noted by 34 percent more than last year. Moreover, this result is also good because many analysts from Wall Street had expected Google revenue growth of only about 25 percent.

Anyway, the company’s net income also jumped significantly from $6.8 billion in the first quarter of 2020 to $17.9 billion at the beginning of this year.

And while these numbers are impressive, overall, such big rises shouldn’t come as much of a surprise. As is not hard to understand, this growth is due to a negative factor for much of the world.

You and I spent most of last year, and this year, under the conditions of the global pandemic, which prompted many companies to drastically reduce their advertising budgets and move to remote work, starting to use a variety of products from Google.

The corporation has also earned so-called “marketing dollars,” which continues to keep Google in the black no matter what.

“Over the past year, people have begun to turn to both Google Search and many of the company’s other online services more and more frequently to stay informed about news and events, stay connected, work, and even have fun no matter what. We remain focused on providing exceptional service and quality to help people around the world,” said Sundar Pichai, Google chief executive officer, in an official statement.

It’s also worth noting that YouTube may be the best example of a service owned by Alphabet, which in turn prospered best during the pandemic. It’s all about the fact that all those ads placed on the platform accounted for $6 billion of Alphabet’s total revenue.

Moreover, this company also reported a brand new peak in Google’s cloud business results, which in turn managed to bring in a very impressive revenue of more than the mark of 4 billion dollars.

Meanwhile, another category of Alphabet’s ownership, called “Other Stakes,” which includes companies such as autonomous driving firm Waymo and Verily, grew very little compared to last year.

These subsidiaries collectively generated about $60 million more in revenue than last year, but the associated losses remained more or less stable at about $1.1 billion. So only Google and its products can be considered a truly profitable company.