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Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Google's parent company Alphabet blew past Wall Street expectations on revenue and earnings per share during the first quarter, the tech giant said Tuesday.

Why it matters: Much of that growth can be attributed to YouTube, which grew its revenue by nearly 50% year-over-year last quarter.

  • The company's operating income margin also increased significantly from 19% in Q4 to 30% in Q1.

Details: The company, which started only recently to report revenues for some of its standalone businesses — like Google Cloud and YouTube — showed improvement in sectors other than standard search advertising.

  • YouTube brought in $6 billion for the quarter, more than 10% of its total quarterly revenue. The company revealed some compelling growth m
  • Google's "Other Bets" category, which consists of businesses like Nest and Waymo, jumped $47% year-over-year last quarter.
  • Google's Cloud business brought in $4 billion last quarter, which while slightly shy of Wall Street expectations, was still 5.6% higher than the previous quarter.

Be smart: The company also revealed some compelling growth metrics for its new TikTok rival "Shorts" on YouTube, noting that Shorts had 3.5 billion daily views through the end of April.

By the numbers, per CNBC:

  • Earnings: $26.29 per share vs. $15.82 per share expected
  • Revenue: $55.31 billion vs. $51.70 billion expected
  • Google Cloud revenue: $4.05 billion vs. $4.07 billion, according to FactSet estimates.
  • YouTube ads: $6.01 billion vs. $5.70 billion, according to StreetAccount.
  • Traffic Acquisition Costs (TAC): $9.71 billion  vs. $9.25 billion, according to FactSet estimates.

Go deeper

Apr 26, 2021 - Technology

Roku says it may lose YouTube TV app after Google made anti-competitive demands

Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images

Roku on Monday notified its users via email that YouTube TV may be forced off its platform entirely, alleging anti-competitive demands from Google that include requests for preferential treatment of its YouTube TV and YouTube apps.

Why it matters: It's one of the first big carriage disputes around anti-competitive behavior in the streaming era. Unlike most streaming TV carriage fights, Roku says it's not asking for more money, but for better terms around anti-competitive demands from Google — such as being asked to favor Google products in Roku search results.

Dion Rabouin, author of Markets
Apr 27, 2021 - Economy & Business

Earnings, inflation fears and Fed meeting make for busy week in markets

Illustration: Sarah Grillo/Axios

Concerns about higher taxes and inflation pushed the S&P 500 to its first weekly loss since mid-March last week, but Monday began where that week ended with stocks moving higher.

What's happening: While traders are largely looking past inflation worries, even after last week's IHS-Markit purchasing managers index showed yet another record high reading for prices, company executives are not.

Dion Rabouin, author of Markets
Apr 27, 2021 - Economy & Business

Tesla reports strong earnings, but traders are unimpressed

Expand chart
Data: FactSet, company filings; Chart: Will Chase/Axios

Tesla's latest earnings report beat expectations handily, thanks largely to its investment in bitcoin and regulatory credits, but the stock fell by as much as 3% in after-hours trading.

By the numbers: Tesla reported revenue of $10.4 billion and a record-high $438 million in net profits. The company said it made $101 million from the sale of some of its bitcoin holdings after investing $1.5 billion in February.