Pandemic-driven lifestyle changes that have put the internet at the center of seemingly everything proved a financial boon for Amazon and Google in the final three months of last year.
Google-parent Alphabet and the Seattle-based e-commerce colossus reported large earnings Tuesday on thriving internet advertising and the booming market for online shopping.
“We are proud that people continue to choose Google’s products to stay informed connected and comforted during uncertain times,” chief executive Sundar Pichai said on an earnings call with analysts.
Alphabet said its quarterly profit rocketed some 50 percent to $15.2 billion at the end of last year as its digital ad business thrived.
Alphabet revenue in the final three months of last year hit nearly $57 billion, compared with $46 billion in the same period in 2019, according to the internet titan.
The strong quarter “was driven by Search and YouTube, as consumer and business activity recovered