Sundar Pichai, chief executive officer of Google Inc.
Bloomberg | Getty Images
Alphabet reported on Tuesday its first-quarter results.
Here’s how Google’s parent company fared in the quarter relative to what Wall Street analysts polled by Refinitiv expected:
- Earnings: $26.29 per share vs. $15.82 per share expected
- Revenue: $55.31 billion vs. $51.70 billion expected
Google-owned YouTube became the winner of the pandemic in terms of social media sites, according to a recent Pew report, which said the video platform saw usage grow from 73% of U.S. adults in 2019 to 81% in 2021. YouTube showed 47% year-over-year ad revenue growth in the fourth quarter of 2020, thanks to direct-response ads.
YouTube during the first quarter also revealed its latest metrics for its TikTok competitor Shorts, which the company said had 3.5 billion daily views as of the end of January. It also announced it would be expanding to other countries, including the U.S. beginning this year.
In March, Google announced a $7 billion investment toward expanding offices and data centers across 19 states, creating what will amount to at least 10,000 full-time jobs. That came as the company doubled down on bringing its workforce back to physical offices after the pandemic.
This story is developing. Please check back for updates.