Alphabet sets profit record, plans $50 billion buyback

The results provided the first sign that Google services such as search and YouTube may hold on to gains made since lockdowns and other pandemic restrictions forced people to shop and communicate online over the last year

(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Google parent Alphabet Inc on Tuesday reported record profit for the second consecutive quarter and a $50 billion share buyback but warned a surge in usage and ad sales during the pandemic may slow as people resume in-person activities. With online consumer activity remaining elevated in the first quarter, Alphabet beat analysts' revenue estimates and nearly surpassed the sales record it set in the fourth quarter.