Alphabet Rides Mobile Ad Binge, YouTube Boycott Leaves No Mark


After struggling for years to wring profit from the mobile boom, Google is benefiting from a surge in clicks on ads on smartphones.

Capitalizing on consumers’ shift toward handsets and away from laptops, Google crammed more ads into mobile search results, including new lucrative shopping spots, while running more promotions on its Maps app. The result: Parent Alphabet Inc. beat analysts’ sales projections in the first quarter, ending a four-year streak of missing Wall Street estimates after the holidays.

Revenue in the quarter, minus payouts to partners, rose to $20.12 billion, above forecasts of $19.76 billion. Net income was $7.73 a share, easily beating analysts’ forecasts, helped by cost controls at some of the company’s moonshot projects.

After struggling for years to wring profit from the mobile boom, Google is benefiting from a surge in clicks on ads on smartphones.

Capitalizing on consumers’ shift toward handsets and away from laptops, Google crammed more ads into mobile search results, including new lucrative shopping spots, while running more promotions on its Maps app. The result: Parent Alphabet Inc. beat analysts’ sales projections in the first quarter, ending a four-year streak of missing Wall Street estimates after the holidays.

Revenue in the quarter, minus payouts to partners, rose to $20.12 billion, above forecasts of $19.76 billion. Net income was $7.73 a share, easily beating analysts’ forecasts, helped by cost controls at some of the company’s moonshot projects.

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Source:: Advertising Age – Digital