Alphabet produced a quarter that far exceeded preliminary expectations. Among its subsidiaries, the prime was taken by YouTube, whose revenues increased by more than 30 percent compared to the same period last year.
Finally, Alphabet also reported on its quarterly performance. Google’s parent company generated $46.2 billion in revenue and net profit of $11.2 billion, or $16.40 per share. Following favorable figures, the company’s share price rose 8.5 percent, making it by far the most favorable market reaction to the quarterly reports of technology giants (Twitter, Facebook, Apple, Amazon, Alphabet). But let’s see the details. YouTube’s revenue rose from 3.8 billion to 5.0 billion last year, and Google Cloud’s from 2.4 billion to 3.44 billion. The latter business, which includes cloud computing, productivity software and other enterprise services, generated revenue of just $3.0 billion in the previous quarter. The good performance of both businesses is largely due to the coronavirus epidemic, as YouTube has become one of the quarantined forms of entertainment available to many, and Google Cloud has been flown to the top by the advancement of telecommuting.