Google owner sees record profits as lockdown boom continues

[sarahazhari]

Net profit jumped by 162% to a record $17.9bn in the three months to March as advertising revenue swelled by a third.It comes as the tech giant faces increased scrutiny over its power and the pandemic has people turning to the internet more than ever.The firm credited "elevated consumer activity online" for its results.Net profit jumped by 162% to a record $17.9bn in the three months to March as advertising revenue swelled by a third.It comes as the tech giant faces increased scrutiny over its power and the pandemic has people turning to the internet more than ever.The firm credited "elevated consumer activity online" for its results."Over the last year, people have turned to Google Search and many online services to stay informed, connected and entertained," said Alphabet and Google chief executive Sundar Pichai.
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Meanwhile, US and European regulators continue to discuss tightening oversight of Google and other tech giants, but have yet to agree legislation.On the back of the strong results, shares in Alphabet rose by 4.5% in after-hours trading.