Alphabet (GOOGL) 2021 Q1 Earnings Report

Alphabet Inc. (NASDAQ:GOOGL) started as an online search firm that later diversified into several other businesses including e-mail, maps, cloud computing, mobile software, and hardware solutions, among many others. Its broad product lineup and size helped it to become one of the world’s most valuable technology companies.

The California-based search engine giant once again delivered a strong quarter. Alphabet recently reported massive earnings of $17.93 billion, or $26.29 per share for the three months ended March 31, well above $6.84 billion, or $9.87 per share in the comparable period of 2020. Analysts on average were looking for earnings of $15.76 per share.

Revenue for the first quarter jumped 34 percent on a year-over-year basis to $55.3 billion, beating the consensus forecast of $51.5 billion. If we look at the performance of key segments, Search revenue increased to $31.9 billion, as compared to $24.5 billion in the year-ago quarter. Moreover, Cloud revenue climbed 46 percent to $4 billion, while revenue from YouTube ad sales surged 49 percent to $6 billion.

Speaking on the results, CEO Sundar Pichai 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.”

Alphabet stock has been growing at a steady pace this year. The company’s share price has already jumped nearly 36 percent so far in 2021. The 52-week range of the stock is $2,373.85-$2,404.16, while the company’s total market value is hovering around $1.6 trillion.