The Alphabet technology, Google matrix, won 34,540 million pesos in the first quarter, 46% more over the same period last year, the company announced this Thursday in a statement.
On the other hand, the company’s turnover amounted to 12% to 90,234 MDD, above what analysts expected, benefiting from sustained growth in their digital advertising business, which helped compensate for the moderate growth of its cloud computing unit.
The company’s shares rose 6% in extended operations.
The commercial policy of US President Donald Trump has generated fears of an economic recession, which has led companies to rethink their advertising investment. However, analysts claim that the digital advertising market remained firm in the first quarter.
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The main advertising business of Google, which represents approximately 75% of its total income, increased 8.5% to 66,890 million pesos in the quarter, a deceleration with respect to the 10.6% increase in the previous quarter, but even above the expectations of analysts of an increase of 7.7%.
Google Cloud reported a 28% increase in its income, up to 12,260 MDD, a deceleration with respect to the 30.1% growth recorded in the previous quarter.
Analysts expected the unit to report income of 12,270 MDD, according to the collection of LSE data.
Alphabet also revealed a repurchase of shares for 70,000 MDD.
With information from EFE and Reuters
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