Google Cloud is doing better, still a ways to go.
What you need to know
Google reports its Q1 2021 earnings, with overall revenues slightly down from last quarter.
Google Cloud brought in more revenue and narrowed its losses year over year and compared to last quarter.
YouTube continues to be a catalyst for the company`s revenue growth thanks to ads.
Google`s parent company, Alphabet, has just released its Q1 2021 financial earnings report. Overall, the company managed to beat expectations, with a 31% year-over-year rise in revenue to $55.31 billion. Much of that was fueled by Search ads and YouTube, two of Google`s biggest revenue streams. At the same time, hardware saw a bit of a boost thanks to the Fitbit acquisition, giving Google access to the best fitness trackers on the market. The financial performance of Google Cloud was also in line with what analysts expected, signaling strong growth in the division.
As usual, Search ads fueled the bulk of Google`s revenue stream, br...
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