Alphabet Beats Analysts’ Estimates on Surge of Retail Ads
- YouTube sales jump 84% in three-month period to $7 billion
- Cloud unit revenue gains 54% while unit narrows operating loss
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Google delivered turbocharged sales growth in the past quarter, underscoring its status as the world’s most potent advertising engine. The internet giant took advantage of an uneven pandemic reopening, catering to homebound users spending more time on screens as well as consumers venturing out to shop and travel.
Second-quarter sales for Alphabet Inc., Google’s parent, surged past Wall Street estimates, due to a swell of ads from retail marketers eager to encourage consumer spending -- through e-commerce on YouTube and by physically returning to stores.