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Technology desk.
The new Corona virus is wreaking havoc worldwide. The toxins from this deadly virus have already begun to affect many areas. As a result, the wheel of the global economy has stopped. Amid this epidemic, Alphabet’s earnings exceeded analyst expectations in the first quarter of the year. Google’s advertising revenue doubled, exceeding the company’s overall revenue expectations.
Google has had record profits in recent years. This has been possible thanks to the rapid use of the Internet with the economy.
However, this time these two drivers have been disconnected due to the effect of the Corona virus. Although the use of internet services has increased, the customer has reduced the cost.
In recent statements to analysts, Ruth Porat, chief financial officer at Alphabet, said: Advertisers have also cut costs. ‘
A report by the international news agency Reuters confirmed this information.
“Our idea so far is that the second quarter will be difficult for the advertising business,” said Ruth Porat.
Overall, Alphabet’s revenue for the first quarter of the year was হাজার 4.12 billion, up 13 percent from the same quarter last year. According to Refinitive, the financial analysts’ average earnings forecast for the quarter was 4.29 billion.
Other Google services, including the Duo video chat tool and YouTube, have become more important to more customers this year. The search engine giant does not charge for most services. The income from these services comes from advertising tools.
Last year, 63 percent of Alphabet’s income came from Google’s advertising business.
In the first quarter of this year, Google made $ 3.36 billion from the advertising business, which is 10 percent more than in the first quarter of last year.
James Cordwell, an analyst at Atlantic Equities, said: “YouTube has produced surprising results.
On the other hand, five and a half percent of Alphabet’s revenue last year came from the cloud business.
However, this time Google has offered many free services in the cloud service to help the customer in the epidemic. Even then, the company has earned হাজার 2.6 billion from this sector, which is 52 percent more than a year ago. In addition to the increase in revenue, the total cost of the alphabet has risen 12 percent to .2 33.2 billion compared to a year ago.
