- Title: Google parent Alphabet reaches record quarterly revenue, profit in ad boom
- Date: 27th July 2021
- Summary: NEW YORK, NEW YORK, UNITED STATES (FILE - OCTOBER 20, 2020) (REUTERS) VARIOUS OF GOOGLE ON LAPTOP AND IPHONE
- Embargoed: 10th August 2021 19:05
- Keywords: Alphabet Google company news misinformation results social media tech
- Location: NEW YORK, NEW YORK, + MOUNTAIN VIEW, + SAN FRANCISCO, + SANTA BARBARA, CALIFORNIA, + DALLAS, TEXAS, UNITED STATES
- City: NEW YORK, NEW YORK, + MOUNTAIN VIEW, + SAN FRANCISCO, + SANTA BARBARA, CALIFORNIA, + DALLAS, TEXAS, UNITED STATES
- Country: USA
- Topics: Company News Markets,Economic Events,United States
- Reuters ID: LVA001ENMB3GN
- Aspect Ratio: 16:9
- Story Text: Google parent Alphabet's quarterly revenue and profit surged to record highs, the company reported on Tuesday, powered by a rise in advertising spending as more consumers shopped online.
Shares of Alphabet rose 5% in extended trading as it reported results that were a beat in both financial metrics.
Shares of Facebook, Google's rival in web ad sales, which reports its own results on Wednesday, rose 1.3%.
The digital ad market is booming, with consumers shifting to shopping largely online because of the coronavirus pandemic, leading companies to rely on data gathered from customers' orders and online activity to launch new products and know their market better.
(Production: Aleksandra Michalska) - Copyright Holder: FILE REUTERS (CAN SELL)
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