Alphabet shares surged after first-quarter results and upbeat executive comments showed the company’s cloud and YouTube businesses kept growing in the midst of the Covid-19 pandemic.
Browsing: Ruth Porat
Google parent Alphabet reported thinner profit margins as the Internet giant spent heavily to expand its cloud and YouTube businesses. The company’s shares slipped in late trading.
Alphabet’s first quarter results came with a clear message to Wall Street: the company is embarking on a new spending binge to chase its biggest rivals. Google’s parent posted the strongest sales growth in almost