Alphabet financial results, Google’s cloud business increased 46% –Advertising on the pillar of revenue is also strong

Google’s parent company Alphabet announced its financial results for the first quarter of the 2021 fiscal year (closing March 31) on April 27, reporting that Google’s cloud business sales reached $ 4,047 million. .. This is a 46% increase from $ 2,777 million in the year-ago quarter.

The cloud business’s operating loss was $ 974 million, down from the previous year’s loss of $ 1.73 billion. Google began disclosing operating losses for its cloud business in the fourth quarter of 2020, making it clearer how much Google’s advertising business continues to support the expansion of its cloud business. Alphabet’s net earnings were $ 17.93 billion and diluted earnings per share were $ 26.29. Total sales were $ 55,314 million, up 34% year-on-year. Analysts expected sales of $ 51.68 billion and earnings per share of $ 15.88. As usual, Google’s services account for the majority of revenue, at $ 51,178 million. Advertising remains a pillar of revenue for Google, with revenue of $ 44,648 million, up from $ 33,763 million in the year-ago quarter. Google Search and other advertising revenue (excluding YouTube) was $ 31,879 million, up from $ 24,502 million in the year-ago quarter. YouTube advertising revenue was $ 6,005 million, up from $ 4,038 million. Alphabet’s “Moonshot” (a long-term, large-scale project) Other Bets division had sales of $ 198 million and an operating loss of $ 1.145 billion.