The "parent" company Google reported a profit of $ 41 billion in the I quarter of 2020
Alphabet, which owns Google, reported a profit of $ 41 billion in the first quarter of 2020. This is 13% more than the same period last year - then this figure amounted to $ 36.6 billion. Net profit also showed an increase - from $ 6.65 billion for the first quarter of 2019 to $ 6.83 billion for the same period this year.
However, according to Alphabet Chief Financial Officer Ruth Porat, revenue declined sharply in March because companies began to cut spending on advertising and users started to buy less. According to Alphabet's expectations, in the second quarter of 2020, the commercial advertising sector will be very low.