Sundar Pichai, CEO of Google Inc.
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Alphabet reported its first quarter results on Tuesday.
Here’s how Google’s parent company performed in the quarter compared to Wall Street analysts surveyed by Refinitiv:
- Merits: Expected $ 26.29 per share versus $ 15.82 per share
- Revenue: Expected to be $ 55.31 billion versus $ 51.70 billion
Google-owned YouTube became the winner of the pandemic in terms of social media websites, according to a recent Pew report. On the video platform, usage increased from 73% of adults in the US in 2019 to 81% in 2021. YouTube saw 47% year-over-year growth in advertising revenue in the fourth quarter of 2020 thanks to direct response ads.
YouTube also released its latest metrics for its TikTok competitor Shorts in the first quarter, which the company said had 3.5 billion daily views at the end of January. It also announced that it would expand to other countries, including the US, starting this year.
In March, Google announced a $ 7 billion investment to expand offices and data centers in 19 states, creating at least 10,000 full-time positions. It did when the company doubled in size after moving its workforce back to physical offices after the pandemic.
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