Alphabet-Google Profit Up Despite Pandemic-Linked Ad Dive
April 28, 2020
6:26 pm
Google parent Alphabet on Tuesday reported higher profits and revenues in the first quarter even as a coronavirus-induced economic slump hit advertising in March.
Alphabet shares climbed three percent in after-hours trades following release of earnings figures that eased fears the pandemic would devastate digital ad revenue that is the internet firm’s income engine.
Alphabet reported a profit of $6.8 billion, up nearly three percent from last year, on revenue that grew 13 percent to $41 billion compared with the same quarter a year earlier.
The internet colossus said, however, that the pandemic’s impact began to hit online ads, its …
