Tech

Google is ready to profit from the surge in online advertising

Google’s parent company is expected to report the largest second-quarter sales growth in 14 years. Spout of online advertising From companies competing for customers throughout the reopened economy.

Expected results are Alphabet Inc after the Covid-19 pandemic. Should deepen investor confidence that has emerged more strongly. Accelerated e-commerce purchases, Online food ordering and streaming video consumption, analysts say. With the proliferation of digital activity, companies are spending marketing money on Google search, maps, and advertising across YouTube, emphasizing the excellence of their products.

Wall Street expects these trends to stand out in Alphabet’s results for the April-June period, with analysts surveyed by FactSet having sales of approximately $ 56.19 billion and profits of $ 12.94 billion. I predict that it will be. The company posted revenue of $ 38.3 billion and profit of $ 6.96 billion in the year-ago quarter. Pandemic has hurt the digital advertising business..

Other tech companies are benefiting from the booming digital advertising market. Snap Inc. reported last week that revenue was more than doubled Growth of strong users, Twitter Inc. reported that sales surged 74% due to increased advertising.

Google’s expected sales growth reflects a return to the form of a money-making machine that reported revenue growth quarterly for 10 years. The pandemic temporarily ended this trend when sales fell 1.8% last June, as major advertisers cut spending, especially in the travel sector, which accounts for about 15% of sales.

Google is ready to profit from the surge in online advertising

Source link Google is ready to profit from the surge in online advertising

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