Alphabet Inc recently released its first-quarter results for the period ended 31 March 2020. The first-quarter earnings were mixed due to the COVID-19 pandemic, resulting in the slowing of growth in Google’s digital advertising business. At the same time, the company’s cloud and YouTube segments continued to perform well. Analysts estimate that Alphabet will lose approximately $10 billion in advertising revenues this year due to COVID-19.
Alphabet reported that its revenue increased by 13.3% year on year (up 15% on a constant currency basis) to $41.2 billion (1Q2019: $36.3 billion). Google Search & other revenue was the most significant contributor to revenue for 1Q2020, amounting to $24.5 billion, which is approximately 60% of the total revenue earned by the group.
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