Google's parent company Alphabet was the latest member of big tech to give an update on its business yesterday, and the numbers were good... crazy good.
I'm feeling lucky
Alphabet reported quarterly revenue of about $75bn, which is up about 32% on this time last year, with just about every single segment firing on all cylinders.
YouTube ad revenue was up a healthy 25%, but it was nothing on Alphabet's main property, Google Search, which clocked in a record $43bn of quarterly revenue, growing 36% on last year. Even better than that was Google's Cloud biz, which competes with Microsoft's Azure and Amazon's AWS, it notched revenue that was up 45% on last year.
Investors gave Google a big thumbs up, with shares rising 7% this morning. The company also announced a 20-to-1 stock split, presumably to make shares more affordable for retail investors.
