Alphabet Q1 earnings up 34% during lockdowns

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  • Alphabet’s overall sales rose 34% in the first quarter of 2021, to $55.3 billion 
  • The figure, announced Tuesday, exceeds analysts’ prediction of $51.7 billion
  • The impressive figure is fueled by surge in advertising revenue and cloud sales 
  • Alphabet also announced a $50 billion share buyback
  • Alphabet’s quarterly profit rose 162% to $17.9 billion, or $26.29 per share 
  • Shares rose about 4% to $2,375 in extended trading on Tuesday
  • Amazon’s update is on Thursday, and analysts predict a 38.3% rise in revenue 
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