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Alphabet Delivers Big Beat - Revenue Surges 34%

April 28, 2021

Alphabet reported financial results for the quarter ended March 31, 2021. The firm reported earnings of $26.29 per share with $15.82 per share expected. On the top line, revenue was $55.31 billion with $51.70 billion expected. Google Cloud came through with a 46% year-over-year pop in revenues to $4.05 billion.

Sundar Pichai, CEO of Google and Alphabet, said: “Over the last year, people have turned to Google Search and many online services to stay informed, connected and entertained. We’ve continued our focus on delivering trusted services to help people around the world. Our Cloud services are helping businesses, big and small, accelerate their digital transformations."

Ruth Porat, CFO of Google and Alphabet, said: “Total revenues of $55.3 billion in the first quarter reflect elevated consumer activity online and broad based growth in advertiser revenue. We’re very pleased with the ongoing momentum in Google Cloud, with revenues of $4.0 billion in the quarter reflecting strength and opportunity in both GCP and Workspace.”

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