27.04.201723:41:00UTC+00Alphabet’s Profit Buoyed by Strong Ad Sales

Google-parent firm Alphabet Inc. saw a jump in quarterly profit and revenue as its main advertising business continued to boom at a dramatic rate and issues such as a widespread YouTube boycott had little impact on its financial results.

The tech giant's profit exceeded estimates, surging by by 29 percent to $5.43 billion. For a company with Google's massive size, such performance was deemed exceptional by analysts. They also noted that Alphabet remains a global powerhouse in digital advertising.

Following the steps of its rival Facebook Inc., Google has stepped up its efforts and focus on mobile advertising. Google is seen to hold a 61.6 percent share of the global advertising market in 2017, rising from the 60.6 percent in 2016, according to eMarketer. Paid clicks rose by 44 percent, almost twofold of the expected 29.7 percent increase.

Google's revenue soared 22.2 percent to $24.75 billion from the $20.26 billion during the quarter from January-March. Net income also advanced to $5.43 billion or $7.73 per share, up from the $4.21 billion or $6.02 per share seen a year prior. It also beat estimates of Q1 profit of $7.34 per share.