Citing elevated consumer activity online and broad based growth in advertiser revenue, Alphabet reported total revenues of $55.3 billion in the first quarter, up 34% yoy. Net income amounted to $17.930 billion for the quarter.
Google Cloud revenue amounted to $4.047 billion, up from $2.777 billion a year ago. There was a $1 billion loss for the quarter. The company said it remains focused on revenue growth for Google Cloud.
Google Cloud includes Google’s infrastructure and data analytics platforms, collaboration tools, and other services for enterprise customers. Google Cloud generates revenues primarily from fees received for Google Cloud Platform services and Google Workspace (formerly known as G Suite) collaboration tools.
Sundar Pichai, CEO of Google and Alphabet, said: “Over the last year, people have turned to Google Search and many online services to stay informed, connected and entertained. We’ve continued our focus on delivering trusted services to help people around the world. Our Cloud services are helping businesses, big and small, accelerate their digital transformations.”
