Google (GOOG)‘s parent company Alphabet reported revenue of $61.9 billion for the quarter ended June 30, a staggering 62% jump from the same quarter last year and significantly higher than analysts had expected. The company’s profits more than doubled to $18.5 billion. Alphabet’s stock rose 3% in after-hours trading Tuesday following the earnings report. Much of that growth was driven by a rebound in Google’s core advertising business, which posted revenue of $50.4 billion — a 69% increase … Source link

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While the pandemic had a slight impact on Apple’s sales last year and a slump in advertising affected Google’s revenue, the quarter was huge for both companies. Apple earned $81 billion in the quarter, more than any fiscal second quarter in the company’s history, thanks to soaring sales of iPhones and services, which includes Apple’s streaming service and cloud storage. Google earned $62 billion, a 62 percent increase from the same quarter last year. Source link

Alphabet, Google’s parent company, just made in three months what it took until recently an entire year to earn. That is a level of growth that companies of its size rarely if ever achieve, but the pandemic has erased all the limits for tech firms. The search and advertising company on Tuesday reported record profits and revenue for the second quarter, vindicating the enthusiasm of investors who doubled its value on the stock market since early last year. The stellar results pushed shares… Source link

Stock futures added to losses in late trading on Tuesday, with investors digesting a slew of Big Tech earnings results and looking ahead to another set of reports on Wednesday. A monetary policy statement from the Federal Reserve is also slated for release. Contracts on the S&P 500 dipped about 0.25% at the start of the overnight session. The index, as well as the Dow and Nasdaq, pulled back from record levels during the regular trading day.  Shares of Apple (AAPL) and Microsoft (MSFT) fell… Source link

Business is good for Mountain View, California-based Google. Stephen Shankland/CNET Google’s battle with antitrust… Source link

Alphabet, the parent company of search giant Google (GOOG, GOOGL) blew away Wall Street’s second quarter estimates on Tuesday, bolstered by strength in advertising and cloud computing. Here were the main results from Alphabet’s report, compared to consensus estimates compiled by Bloomberg: Thanks to the tech giant’s linchpin, Google Search, ad revenues skyrocketed by 69% from the comparable year ago quarter. Overall total revenue soared by 62% from Q2 of 2020. During the quarter, “there was a… Source link

Google parent Alphabet posted $50.44 billion in sales from advertising, a 69% increase helped by a red-hot U.S. market where ad-spending is on track to be the fastest in the postwar era. YouTube’s ad business collected $7 billion in revenue, increasing 84% from a year earlier. The expected results should deepen investor confidence that Alphabet emerged stronger after the Covid-19 pandemic accelerated e-commerce purchases, online food orders and streaming video consumption, analysts say…. Source link

Last quarter, Google roared out of the post-pandemic-peak period with a record $17.9 billion in profit, finally joining other tech giants that had been raking it in despite (or perhaps because of) the rise of COVID-19. But Alphabet’s Q2 2021 earnings do it one better — the company just set an all-time record revenue of $61.9 billion this quarter, and record profits for the fourth quarter in a row at $18.5 billion. Some of the numbers the company’s posting today (PDF) are nearly… Source link

By Sheila Dang, Nivedita Balu (Reuters) -Google parent Alphabet Inc’s quarterly revenue and profit surged to record highs, the company reported on Tuesday, powered by a rise in advertising spending as more consumers shopped online. Shares of Alphabet, the world’s largest provider of search and video ads, rose 3.3% in extended trading after the results, which handily beat analyst estimates. Shares of Facebook, which competes with Google in web ad sales and reports its own results on… Source link