Google Parent Alphabet launches quarterly results

Google Parent Alphabet She said that she would buy $ 70 billion shares and increase her profits by 5 % because she reported the profits of the first quarter on the forecasts of Wall Street on Thursday.

The shares jumped by 4 % in extended trading, adding about $ 75 billion to the company’s market value.

Alphabet won the estimates of quarterly revenue, as it benefited from a fixed growth in its digital advertising, which helped compensate for silent growth in the cloud computing unit.

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The alphabet, CEO Sondar Bishy. (Photo by Christophe Sweder / Photo Alliance via Getti Emose / photos)

US President Donald Trump Commercial policy has sparked fears of economic shrinkage, which prompted companies to rethink their spending on the advertisement. But analysts say that the digital advertising market is still kept in the first quarter.

Revenue from the main Google ads, which constitutes about 75 % of its total revenue, increased by 8.5 % to $ 66.89 billion in this quarter – other than the increase of 10.6 % than the previous quarter, but is still higher than analysts’ expectations with an increase of 7.7 %.

Google Cloud has announced a 28 % increase in revenue to $ 12.26 billion, slowing the growth of 30.1 % reported in the previous quarter. Analysts expected the unit to report revenues of $ 12.27 billion, according to the collection of LSEG data.

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The company mentioned Total revenue of 90.23 billion dollars For the first quarter, compared to the average estimate of analysts of $ 89.12 billion, according to the data collected by LSEG.

The net income in the first quarter amounted to 34.54 billion dollars, exceeding the expectations of Wall Street, which amounted to $ 24.85 billion.