Google's profitability doubles as ad sales surge coming out of pandemic
CBSN
Google's digital advertising network has shifted back into high gear. Parent company Alphabet Inc. reported profit that more than doubled after an unprecedented reversal during the early stages of the pandemic.
The robust first-quarter advertising growth announced Tuesday is the latest sign that advertisers are expecting the economy to roar back to life as more people get vaccinated against COVID-19 and burst out of their pandemic cocoons. The company's ad sales surged 32% from the same time last year to nearly $45 billion during the January to March period. It's the third consecutive quarter of accelerating ad growth for Google following an 8% decline during last year's April to June period. That marked the first time Google's quarterly ad revenue had fallen from the previous year since the search company went public in 2004.
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