Alphabet kicked off a big week for tech earnings as the industry starts to look ahead to a post-pandemic economy by reporting a characteristically strong start to 2021.
Google’s parent company reported revenues of $55.3 billion for the first three months of the year — a 34% jump from the same period last year — and made close to $18 billion in profit, comfortably blowing past analyst estimates. It also announced a $50 billion stock buyback.
The company’s stock jumped nearly 4% in after-hours trading on Tuesday.
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