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Google with a record quarter: Corona pandemic drives advertising revenue

2021-07-28T10:46:49.862Z


Growing business with online advertising gave Google parent Alphabet a record quarter. The company is thus once again benefiting from the consequences of the corona pandemic.


Growing business with online advertising gave Google parent Alphabet a record quarter.

The company is thus once again benefiting from the consequences of the corona pandemic.

Mountain View - The tech group Google is profiting from the online boom with record numbers.

The turnover of the parent company Alphabet rose in the past quarter year-on-year by 62 percent to around 61.9 billion dollars (52.4 billion euros).

In terms of profit, there was a jump to a good 18.5 billion dollars from just under 7 billion dollars a year earlier.

The mainstay of the business is still online advertising in Google's search engine and other areas of the Internet.

Google's advertising revenues rose in the second quarter by around 69 percent to a good 50.4 billion dollars, as Alphabet announced after the US market closed on Tuesday.

The video platform Youtube brought in 7 billion dollars - after 3.8 billion dollars a year ago.

Google: Increasing usage times due to Corona

Top manager Philipp Schindler said in a conference call with analysts that retail advertising spending contributed most to the increase.

In addition, the travel industry and financial service providers have also spent more money on advertisements.

As consumers spend more time online, companies are also increasingly online to reach them with advertising.

In the corona pandemic, online platforms such as Google, Facebook, Snapchat or Twitter benefit particularly strongly from the trend with their efficient systems for displaying personalized advertising.

Facebook presents its figures after the US market closes.

Cloud services revenue increased by more than half to $ 4.6 billion.

Google is still well behind Amazon and Microsoft in the business.

At the same time, the division was able to reduce its operating loss to $ 591 million - from a good $ 1.4 billion a year earlier.

Alphabet: With ample reserves against regulatory actions

Alphabet's so-called “other bets” with potential future business such as self-driving cars or delivery drones increased sales from $ 148 million to $ 192 million.

At the same time, their operating losses widened to just under $ 1.4 billion.

That was almost $ 300 million more than a year ago.

The reserves of the Internet group reached around 136 billion dollars at the end of the quarter.

While Google, like other tech giants, is increasingly being targeted by regulators, this is a lush cushion for possible fines.

The quarterly figures exceeded the analysts' expectations, the share price rose in after-hours trading by around three percent.

(dpa)

Source: merkur

All news articles on 2021-07-28

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