Alphabet beat revenue expectations in the first quarter, despite slowing ad sales during the coronavirus.
Shares of Google parent, Alphabet, rose by more than 4% after the company reported first quarter earnings that beat revenue expectations, despite headwinds from the global spread of the coronavirus.KEY FACTS
Advertising sales still make up most of Alphabet’s total revenue and rose to $33.8 billion, up from $30.6 billion last year. Traffic acquisition costs came in at $7.45 billion, versus $7.51 expected. Google’s “other revenue” segment saw a nice bump in the first quarter, coming in at $4.4 billion compared to $3.6 billion a year ago, with cloud revenue making up $2.8 billion of that number.
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