Google parent Alphabet exceeds expectations thanks to cloud services

Alphabet’s net profit is $26.3 billion, an increase of 34 percent compared to last year. Per share, an important indicator for Wall Street, that comes to $2.12, which is significantly above the $1.84 that analysts had expected.

Profit growth is significantly faster than turnover growth (+15 percent), mainly due to an improvement in the profitability of cloud services. Its operational results have increased more than sevenfold. In four years, cloud services have grown from 7 to 13 percent of Alphabet’s turnover.

However, Google’s advertising revenue remains the basis of the technology group. These increased by more than 10 percent in the past quarter compared to last year, to $ 65.85 billion. Video platform YouTube contributed $8.9 billion to this, an increase of 12 percent.