Google’s parent company Alphabet has announced its financial results for the first quarter of 2020m and the company y has seen an increase in revenue of 13 percent for the quarter over the same period last year.
Google reported revenue of $41.2 billion up 13 percent for the quarter and a profit of 6.8 billion for the quarter,up 1.5 percent.
“Given the depth of the challenges so many are facing, it’s a huge privilege to be able to help at this time,” said Sundar Pichai, Chief Executive Officer of Alphabet and Google. “People are relying on Google’s services more than ever and we’ve marshalled our resources and product development in this urgent moment.”
“Our business, led by Search, YouTube, and Cloud, drove Alphabet revenues to $41.2 billion, up 13% versus last year, or 15% on a constant currency basis,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues. We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.”
You can see Googles 2020 first quarter financial results over at their website at the link below, it will be interesting to see what happens in the second quarter.
Source Alphabet
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