Google parent Alphabet on Tuesday reported quarterly profit that had nearly tripled, as money poured in from ads on its search engine and YouTube video platform.
“There was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses,” Alphabet chief executive Sundar Pichai said of the quarter.
Alphabet shares that ended the formal trading day down slightly rose more than three percent after release of the earnings figures, which beat market expectations. “YouTube was the fastest-growing segment during the quarter and points to the continued strength of video advertising for both direct response and brand goals,” said eMarketer principal analyst Nicole Perrin.
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