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Google parent Alphabet sees record profit, plans $50-billion buyback

Microsoft profit soars amid surging cloud demand

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Google’s results, showing a surge in ad sales related to travel and retail, offered a glimpse of online spending in a post-pandemic world: Businesses are boosting digital marketing to capture a public eager to resume something resembling normal life again.
Net profit jumped by 162 per cent to a record $17.9 billion in the three months to March as advertising revenue swelled by a third.
Google parent Alphabet said first-quarter revenue, excluding payments to distribution partners, came in at $45.6 billion, pummeling Wall Street estimates. The company also unveiled a $50-billion share share buyback, sending the stock up

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First Published: Apr 29 2021 | 1:02 AM IST

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