Google parent Alphabet shattered estimates for second-quarter earnings.
Over the three months ending in June, the tech company raked in $61.88 billion, which is 62 percent growth over the $38.30 billion in the same quarter a year ago. The results trounced Wall Street estimates set out by Refinitiv, which expected $56.16 billion.
Widespread vaccination efforts stoked hope of a return to normal life, spurring even more advertising to appeal to consumers who found themselves splurging. That momentum may matter even more, as uncertainty abounds with the emergence of new variants, like Delta, and waning growth of vaccination levels. As fears of a return to lockdown settle in, the focus on online business will likely only grow, not fall.
“[Retail] momentum remains strong,” said Philipp Schindler, chief business officer. “We’re continuing to build an open ecosystem that benefits both users and merchants. Last year, we removed financial barriers with three product listings and zero commission fees. This year, we’re removing integration barriers with Shopify, WooCommerce, GoDaddy and Square. Merchants can now on-board and show their products across Google for free.
This year has been mainly about removing integration barriers, he continued, citing partnerships with Shopify, Square, Big Commerce, GoDaddy, WooCommerce and more. These deals make it easier to get into the Google ecosystem across search, shopping, image search and YouTube, and then make use of the company’s latest measurements and analytics tools, so retailers can better understand performance and pricing.
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