Alphabet's top and bottom lines all exceeded expectations in the first quarter of 2021, and the company announced a new $50 billion stock buyback, which lifted the stock by more than 4% in after-hours trading.

Alphabet reports a major earnings beat, with sales up 34%


Here's how Google's parent company did in the quarter according to what Refinitiv polled Wall Street analysts expected:

Earnings: $26.29 per share versus the estimated $15.82 per share

$55.31 billion in revenue vs. $51.70 billion predicted

According to FactSet figures, Google Cloud sales will be $4.05 billion vs. $4.07 billion.

According to StreetAccount, YouTube advertisements are worth $6.01 billion compared to $5.70 billion.

According to FactSet figures, traffic acquisition costs (TAC) are $9.71 billion vs $9.25 billion.

Google's sales increased by 34% compared to the same time the previous year. For the year, the corporation posted $44.68 billion in advertisement sales. While the results were boosted by an easy comparison with last year's quarter, as the emergence of the coronavirus pandemic caused a steep drop in advertisement expenditure, the results were boosted by an easy comparison with last year's quarter, as the results were boosted by an easy comparison with last year's quarter, as the onset of the coronavirus pandemic caused a steep drop in advertising spend.

YouTube advertising totaled $6.01 billion in the third quarter, up 49% from the previous year.

According to a new Pew survey, YouTube is the pandemic's winner in terms of social networking platforms, with penetration increasing from 73 percent of U.S. adults in 2019 to 81 percent in 2021.

On the company's earnings call, Alphabet CEO Sundar Pichai stated that YouTube's TikTok competitor Shorts now has 6.5 billion daily views, up from 3.5 billion at the end of January.

Google Cloud sales increased by 46% year on year to $4.05 billion, meeting Wall Street estimates. It lost $974 million in the year, which was a substantial improvement from the same time a year earlier. Infrastructure and data mining platforms, collaborative software like Google Docs and Sheets, and "other resources for corporate clients" are all part of Google Cloud.

The corporation also saw a $4.84 billion increase in the valuation of its assets during the year. (This was partially offset by a $86 million reduction in the valuation of other unspecified assets, resulting in a net income of $4.75 billion.) It did not say which investments contributed to the increase, but UiPath, Stripe, and Oscar Health are all likely to have played a role. The corporation does not wait until it sells shares to accept a profit; instead, it employs "various pricing methodologies" to make "observable market shifts" to make "upward and downward revisions to the carrying value of our equity securities."

The company's "Other Bets" division, which includes Verily, its health-tech subsidiary, and Waymo, its autonomous-vehicle bet, lost $1.15 billion on $198 million in sales.

According to the filing, Alphabet's board of directors approved an additional stock repurchase of up to $50 billion on April 23.

Google revealed in March that it would spend $7 billion in developing offices and data centers across 19 states, resulting in the creation of at least 10,000 full-time jobs. This came as the organization redoubled its efforts to return its employees to physical workplaces after the pandemic. CFO Ruth Porat affirmed the company's contribution to constructing and retrofitting offices on the company's conference call.

“We'll need space even in a mixed work climate, so we're continuing to expand our campuses and office facilities,” Porat said. She added that as it prepares its campuses for the modern hybrid work climate, the firm plans to "speed up the pace" on real estate investment later this year.



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