Google parent company Alphabet Inc. reported a 50% profit increase to $34.5 billion in Q1, driven by a 12% revenue rise to $90.2 billion. Despite facing intense competition from AI-driven alternatives and legal challenges regarding its monopoly status, the firm showcased resilience in its core search engine business. CEO Sundar Pichai highlighted ongoing growth momentum, while analysts recognized the effective adaptation to the increasing demands for AI functionalities. Following the report, Alphabet's stock surged over 4%, reflecting investor confidence despite previous declines in value.
Google's first-quarter performance illustrated the continuing power of its long-dominant search engine in a sea of uncertainty.
We continued to see healthy growth and momentum across the business, said Alphabet CEO Sundar Pichai.
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