Alphabet Holding, search engine owner Google, Youtube and many other IT services reported, that in the first quarter, revenue increased by 13% to $41,1 billion against $36,6 billion a year earlier. Analysts had expected $40,3 billion.
Shares rise in price by 8% at premarket trading Wednesday.
Alphabet's profit was $6,8 billion, or $9,87 per share, compared to average analysts in the area $10,3-10,7 per share.
Market participants were not upset, that profit fell short of forecasts, as the company has promised to continue to repurchase its shares at the same rate, as before the pandemic.
Ad revenues grew at double-digit rates for the quarter, despite the negative impact of Covid-19.
Optimism was added by the comments of the management, that in March there was a "sharp" decline in advertising revenue, but suggested, that in April the situation will not worsen. At the same time, due to quarantine measures, the involvement of consumers in Google software services has increased.
