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Alphabet Profit Rises to $11.2 Billion as Google Ads Rebound

Google-parent Alphabet said Thursday its profit climbed to $11.2 billion (roughly Rs. 83,300 crores) in the latest quarter, beating expectations, as ad spending rebounded after being hit by the pandemic.



Money made from cloud computing offerings and from its Google Play shop for smartphones powered by its Android software also helped fuel the 42 percent jump in revenue to $46.2 billion (roughly Rs. 3,44,802 crores) in the quarter, the company said.

"We had a strong quarter, consistent with the broader online environment," said chief executive Sundar Pichai.

HIGHLIGHTS
Alphabet spent years evolving YouTube to an online television platform
Money made from cloud computing offerings helped fuel the jump in revenue
Google Play store powered by Android also helped fuel the 42 percent jump

Alphabet has spent years evolving YouTube from its roots as a free video-sharing to an online television platform competing with titans such as Netflix and Amazon Prime.

"We expected Google's ad revenues to recover across search, YouTube, and Network Members (in the quarter), and all three segments outperformed our expectations," said analyst Nicole Perrin of eMarketer.

She said the gains were especially true of YouTube and pointed to 'notable increases in political ad spending during the quarter."

Google's cloud computing business revenue grew nearly 50 percent to $3.4 billion (roughly Rs. 25,369 crores) as the pandemic boosted a trend toward working, playing, shopping and learning online.

Alphabet shares jumped more than 8 percent in after-hours trading before giving up some of the ground.

SOURCE - https://gadgets.ndtv.com/internet/news/alphabet-google-profit-quarterly-earnings-revenue-q3-advertisements-pandemic-coronavirus-2317939

Amazing insights from google's alphabet

83,300 crore high compared to last quarter
Overall 42% increase including play store income up to 3,44,802 crore in this quarter altogether

Alongside 25,369 crore only in google cloud computing across 50% after pandemic boosted trends like learning online, playing, working and online shopping.

Should be dream come true moment for google a search company back in 04th September 1998's. ( 22 years ago with a amazing dream by Larry page and sergey brin ) but after more and more Indian joined including Sundar Pichai they see the real dream come true moment for 1 followed by infinite zeros is called GooGle today.