Google parent company Alphabet today announced that it earned a net income of $17.9 billion on revenues of $55.3 billion in the quarter ending March 31. Both represent major gains over the year-ago quarter: Net income shot up by over 2.6 times, while revenues were up 34 percent.
“Over the last year, people have turned to Google Search and many online services to stay informed, connected[,] and entertained,” Alphabet and Google CEO Sundar Pichai said of the quarter. “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.”
$44.7 billion, or 81 percent of Alphabet’s revenues, came from Google’s advertising business. By comparison, Google’s “other” businesses delivered just $6.5 billion in revenues, and Google Cloud landed with $4 billion in revenues.