Internet advertising: Google's advertising business grows in all segments
Google's advertising business is running at full speed amid the Corona pandemic. Revenue at Alphabet, the parent company, rose 34 percent year-on-year to $55.3 billion in the past quarter.
According to Chief Financial Officer Ruth Porat, the boost reflects the increased online activity of consumers.
Profits jumped from 6.8 to 17.9 billion dollars, as Alphabet announced after the close of the U.S. stock market on Tuesday. Investors rewarded the figures with a price increase of at times around four percent in after-hours trading.
At Google, where virtually all of Alphabet's business still runs, revenues from the search engine business rose by 30 percent to just under 32 billion dollars. The video platform YouTube contributed a good six billion dollars - around 50 percent more than a year earlier. In the cloud business, revenue rose by 46 percent to a good four billion dollars.
Alphabet's "other bets" - promising business ideas such as self-driving cars or delivery drones - saw revenues rise about 47 percent to $198 million. At the same time, its operating losses also increased from $1.12 billion to $1.14 billion. (SDA)
