Revenue in Q1 was driven by search, cloud computing offerings, and YouTube ads. FMTNews Alphabet
SAN FRANCISCO: Google parent Alphabet on Tuesday reported higher profits and revenues in the first quarter even as a coronavirus-induced economic slump hit advertising in March.
The internet colossus said, however, that the pandemic’s impact began to hit online ads, its main source of revenue and profit, in the final month of the period. Revenue in the three months was driven by search, cloud computing offerings, and ads at video platform YouTube according to Porat.Overall ad revenues for Google rose 10% for the quarter despite the pandemic’s worsening in March.
The pandemic has disrupted operations at tech powerhouses known themselves for disrupting traditional business models. Chief executive Sundar Pichai said that “we’ve marshalled our resources” to assist people during the crisis.
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