GOOG - Earnings call transcript Q1 2021

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Operator

Welcome, everyone. And thank you for standing by for the Alphabet First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] I’d now like to hand the conference over to your speaker today, Jim Friedland, Director of Investor Relations. ahead. go Please

Jim Friedland

afternoon, XXXX Good Sundar welcome Alphabet’s to Philipp Thank conference everyone. call. quarter Porat. earnings and are With first Schindler; you. Ruth And us Pichai; today

Harbor. I Now cover quickly the will Safe

to risks the cause and and performance, materially. pandemic such a operations differ on statements of our the may actual areas of effect financial statements today involve including make Some regarding and we be could business, those of results the uncertainties that COVID-XX that considered number forward-looking

For Form the risk most more to discussed factors the information, please XX-K refer in our SEC. recent with filed

During to this to the financial GAAP present public Relations Investor the is earnings at GAAP non-GAAP measures. included Sundar. is and which in today’s through And turn our call, non-GAAP will we located now, will I measures press call website of available A abc.xyz/investor. to and reconciliation over release, both distributed

Sundar Pichai

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great always, forward seeing Over year. to the for to As the to Philipp. you around a I/O. to thank everyone. look our I world at you To Googlers start

Philipp Schindler

Sundar, It’s and be joining good again great everyone. to afternoon, Thanks, you today.

the by We of began and spend, Year-on-year are in retail. pleased across reflects in last saw revenues consumer growth elevated categories March in most on first revenues advertiser strength led with impact that activity, online we sustained advertising Google in quarter quarter. Services the first year. the a Search, strong initial the pandemic and performance strength lapping broad-based In of

brand. in phenomenal We continued Direct CPG. also In and Response, followed growth YouTube, saw had strong by by strength in performance we driven tech

in number over seen AdMob In advertisers particular the app Manager doubling have past and the ads, strength by of with We using driven with action great for exceptional in Network momentum a Ad Google year. non-advertising driven growth format growth to was revenues take a are few now we in deeper hardware. Google trends followed in into our the Play to other YouTube’s like minutes and revenues, campaigns. by were I seeing would business. by dive TrueView

evolving As across ways the in pandemic the different on Sundar earlier, world. is touched

see advanced businesses to travel, and never starting as plan there’s trip, Google and through and find their insights change. to interest in in are demand On even book. understand partner reacceleration going before these navigate stages is more help everything pandemic of next are are users ready where are renewed important the a is they from countries turn are It’s as to others cases to looking of helping Every them reopening, to Some they to between. opportunities been automation. travel circumstances facing we we

for had it did untapped our links, example, for year. in to companies last booking with routes. Also, just on Search to we using quarter, list compared shopping their newly to tools free insight hotels These demand and last prioritized higher made similar month, significantly we this to travel For Airlines, routes American meant last quarter. rate anticipate what a booking that

For means choice. consumers, it more

exposure companies, For on it free and travel hotels Google. means

means be augmented listings. with For free advertisers, paid can it campaigns

are positive We the seeing Board. already results across

a talk where had we switch gears me and Let quarter. now retail strong very about

our taken you and retail an year free, PayPal. We we and Shopify ecosystem. the to listings open As accelerate over important commission have platform shopping made remove open steps know, past fees to product

digital and into on YouTube and helping and are to retail in surfaces. also as We tapping physical commercial continues line some blur innovating the intent between into key omnichannel, other retailers as opportunities, lean such

Let me talk both. about

six their Goods. to vast offline. just shopping crafts number of talked meet using conditions. TrueView demand from Last Search. omnichannel our arts a changing art and activated were about not store approach sweet shifted with YouTube. Maps Sporting mix. ship in and XX% and response store have e-commerce just their businesses use in Maps. Search on tap awareness increase preferences in is pickup. store the year. local to constantly they XXX%. activated spot for and Michaels, recently, And contributed changed. for that’s build last action pickup, to available Search, It’s we arts year-over-year to curbside just they for store the the up and stay. in Take surging up people’s happening approach searches to This and Dick’s XXX% That Omnichannel the XXXX. near options are in quarter And concepts. new and they online. supplies, e-commerce Searches searches to last for search Throughout not And fulfillment In a fulfillment XXXX, me not sales It’s pickup sales has crafts trend Over for also versus YouTube into months pandemic and curbside YouTube. It’s accelerated here

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brand both when time driving performance they on Speaking at of a goals higher at address scale, most. ad spend and we are YouTube, helping needed advertisers return

We improve are ROI Response Direct a only think years provide user there’s and better will we experience advertisers. significant few and opportunity innovation for that on the in for

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and over We X every toward offering Brand of over are growth reach seeing in X global advertisers With video YouTube’s business, from by billion YouTube strong efficient consumer logged in billion fueled users watched video. monthly linear benefiting streaming which saw trend incremental day, Special is Large audiences, are time TV their and trend. limited offer reach brands those from K of campaign. TV. incremental found for on for campaigns XX% to over XX% are this incremental their Taco to reach saw Bell large Kellogg’s recent hours

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to Play, mentioned best Re. ads to just that. our them quarter the in to I more Univision, the beyond T-Mobile, collaboration. want help their Munich and announced Albertsons, Allianz and bring well across gone partners YouTube have of Sundar thank also we for Cloud, and Google do We customers

always and call innovation. think product, of We partnership, when sales only will now their the we want work I And said, teams support I also they for hand succeed amazing to succeed. and off to Ruth. have

Ruth Porat

you, Philipp. Thank

followed Our both XXXX, our COVID I by I comparisons results and business of excellent reflect focus benefit will performance. in first financial lapping operating conclude My level, the impact very outlook. year-over-year state the first results March at underlying be Alphabet results the in on as on beginning the our quarter quarter will as segment well with start for otherwise. of with strong the unless

For within strength first Cloud. as constant ongoing $XX.X as online consolidated XX% our billion, Google or Services, currency, elevated in consumer spending quarter, Google broad-based advertiser the were revenues up activity XX% increases reflecting and up in well in

for YouTube’s was revenues primarily XX%. partially to $XX.X primarily And of expenses operations, was up cost billion, and with centers other TAC, $XX.X content acquisition costs due reduction certain followed by factors up supported lives subscription of followed first, by Other Within biggest by cost depreciation costs useful a for content, second, to other costs, changes of revenues, of associated by data driven costs $X.X offset XX%, X%. XX%, which by up were $XX.X total content. which network in servers advertising in up estimated Operating Our expense was billion equipment. cost billion the revenues, billion, are, driven

In terms three OpEx. of component of the parts

First, headcount the primarily increase in R&D expenses was driven by growth.

growth, ads well Second, sales on and was marketing expenses were spend essentially flat, lower and offset promo, as as travel reflecting which and headcount on by entertainment.

Finally, benefit of expense gains equity $XX.X billion, operating impact allowances in due lapping flow marketable with in $X.X certain $XX.X primarily losses to high the recorded quarter COVID the flow quarter was XXXX income legal in G&A of reflects unusually free charges cash first the credit in $XX.X was billion the billion. relating XX%. of the securities. decline offset of the billion the $XXX to the $XX.X income by first ended with the up trailing employees billion, and billion cash X,XXX managers. up Headcount the reflects XX quarter and majority value in Again, securities. us was which our in matters. than who quarter X,XXX of months. and quarter, of cash including was product billion, and hires for We and Other income investments the Operating QX. was engineers unrealized in were from fourth Fitbit more Net was Operating in new margin joined for the XXX% $XX.X

now Search $XX.X other XX%, and Services segment consisting quarter Total categories were $XX.X revenues advertising up of by with with XX%, turn the billion across segment. Google in billion Google our to starting retail. strength results, our of revenues me Google up Let financial Services led most

primarily billion, AdMob Manager. exceptional hardware, $XX.X revenues and and performance followed was which from of Play $X Direct in Services in driven Fitbit was and ongoing advertising. billion XX%, growth billion XX% Google the advertising income XX%, advertising YouTube $X.X and were up up $X.X YouTube revenues. by up revenues operating non-advertising by margin Network brand addition billion by the revenues by XX%. Ad driven operating driven XX%, revenues Response of benefited up in Other strength of

Turning growth first average were Workspace, billion the to Google growth and had Google GCP’s an Google Cloud was GCP above and revenues operating was revenues revenue Workspace Cloud $X seat. again the overall. Google revenue per seats Cloud quarter $X in of XX%. including for loss segment, both up by meaningfully in growth billion. Strong driven

million. first billion. Other $XXX As were the revenues loss to our in $X.X operating Bets, The was quarter,

and outlook our our each with more for end investments segment me Let broadly.

the Services, a the greater to affected broad-based in say online which from as beginning It what in be strength behavior meaningfully will of of lifted. lap from last pandemic, QX in of year-over-year and quarter, an level Google year, comparisons second first In now and consumer to XXXX, we be last COVID durable you benefited the QX on by for continue activity we lap. recover starting are will For year. easier user the relative then in advertiser increased the benefit QX economies to from year stronger in too comp due remainder are restrictions saw the to impact benefit of consumer mobility an half spend. to Within beginning and revenues, with Play engagement to Other early performance elevated is this how

balance investment pace we being said, the recovery by support marketing intend may the of areas, terms some to the entertainment travel we and invest of opportunities That be within the globally. the of levels COVID like, and events, in still aggressively investment In Services, see. to affected of Google through pace year extraordinary

has we and the reflects part opportunity QX, growth in remain and products in aggressively in not our we given some focused We The revenue the for operating invest Google on will the go-to-market in quarter. Cloud, approach items to changed. As continue to business organization, our building results see. notable

First, And in first second, as lower the losses the lapping the XXXX, depreciation due allowances quarter of unusually estimated of lives. to recorded in mentioned. for credit the useful I already change expense high the

the the throughout segments. course year the will across dollar of benefit Although, diminish

As results time. scale benefit operating should over we previously, have from increased noted

point, we invest performance. build However, to organization continuing to remain at focused this long-term on cloud the for do

with continue a value In terms of Other the long-term invest Bets, on to focus creation we opportunity.

to our by a investment the given results of Cloud, consolidated technical learning. facilities, Search, pace to offset and slower CapEx, in impact in driver technical level, infrastructure, ongoing to of a reflect continue invest to support COVID. continue investment, as servers the largest infrastructure, the Ads Turning ongoing Within at investment office we of machine be

with with primary businesses, in We use these followed of to growth to continues support be flexibility growth organic allocation, by to a Finally, retaining our acquisitions capital respect drivers and capital. our for return capital investments. of complement

we C As authorized Philipp your And I our Thank additional our take of you. $XX stock. now, and indicated Sundar, questions. Board Class the up in today, release has of an billion will press our repurchase to

Operator

our question you. comes Instructions] the [Operator Stanley. first from Thank from And Brian line Morgan of Nowak

is line Your open. now

Brian Nowak

continue little build innovation priorities do of wanted and Search, you questions. talk if Thanks see provide for to YouTube around users job deliver you one us two, Maybe the such more about key done and value make first outsized Where innovation Search largest on the YouTube, think to further have innovation maybe and great most to key about at more one for priorities. a a more you services. into the can sort to I second for the you incremental have question appreciate the for similar on in your your I do And the investment and your to Thanks. color Philipp, for advertisers? taking advertisers? YouTube? more four helpful products areas the my helpful for opportunities and how dig I Sundar.

Sundar Pichai

in was stages. question. Recent Search, it very got of are great and stuck think example, On was Canal the we which then proud still ship I Thanks. out. in when early was the Suez I

answer. think, very except It question many provide If answers Google, we had seems right to that for giving without the answers wrong need soon you we other to obvious I things. after the ask or do and right misinformation to

long-term. do it. improvements think, all it. biggest to think was laid that the where investments one about foundation was and on the It from underlying over transformer AI for quality which our that’s go a is So based breakthrough we I our our BERT last Google of it that the of how great year, and was team, example

continuing than are invest way we the more scaling There’s is in ever deep before. web up. So the that technology information to as

that’s big doing. of are a we So part what

Beyond that, improve to is there a experience. of user lot opportunity the

hard one seen our the That’s efforts experience are working we You around aspect of have how shopping. improve to there.

are pretty we looking but Philipp? So at it deeply.

Philipp Schindler

Yes.

and me side, buy view. YouTube growth and this them a what we buy getting want People shoppable just exceptional YouTube start you for started to YouTube overall already, was growing they lot practically was with easier. go launched we to let years it make a fast new discovery large in make our and the the for now capabilities. as to easier process creators, to non-existent And want to business quarter. we Direct DR few and business, On it’s are a my truly Response ago on and know, decide

from creators So their favorite on viewers purchases make directly can actually YouTube.

of and over. Just tested example, Connect part Calvin our Brand as an Klein these program, drove as

it think out XXX% products was, actually. lift in search and sold multiple brand I

think reach to really all Advertisers more major their remember to commercial are And For we the else. now brands TV. merchants, XX- and the anywhere combined than XX-year-olds can’t to more opportunity YouTube find really using what’s also YouTube the are be to bring TV watching there YouTube they linear TV now directly work are on is, audience on it, with to are reach don’t let’s course, can actually intent compared they incremental just say, linear call YouTube. seeing anymore. reaching a And still feeds platform audiences through, brands. I campaigns then into surface Historical video their of for approaches and scratching product possible on

awareness more to and we funnel by the starting of mix a formats. reach They see are action. across to are So to oriented actually action results consideration driving advertisers and from awareness

we see of lot interesting a opportunities So here. really

Brian Nowak

Great. Thank you both.

Operator

And you. comes Doug JPMorgan. question next from Thank our from Anmuth

is now line open. Your

Doug Anmuth

you have Ruth, want to Thanks for I first, about two, taking Cloud. just the questions. ask

useful in case change You in past, But are of that I talked biggest just forward? some secondly, just in And operated being just given going there that’s think the benefits curious I Waymo, change your the seen life. XQ you loss terms management saw significant year. if about at from was view have the going the perhaps still the transition we the Thank things then, any you. should we in forward? expect how of

Ruth Porat

question. the for Thanks

of overall think, I So meaningfully quarter-to-quarter, performance, I given business. is, early say in do point stages and building in in to I of still intend the We the continue given to wouldn’t generally the terms from Cloud main opportunity. are would extrapolate we the Cloud invest

also the things quarter, margins the depreciation the a losses high you were as in lapping recorded benefited that there first of couple item, so were back that credit both unusually but the in And quarter. expense said, for allowance

continuing So, is we to takeaway the are invest. main

remain products We time. this And talked organization quite will long-term focused do we margin for operating increased on it’s At investing will operating the consistently much scale to time. and build over where as we losses invest aggressively point, benefit from go-to-market over about have performance. in and

Sundar Pichai

and closely have it’s been -- working this for and been And he’s Doug Dmitri him. with down been our planning and John on Waymo, Tekedra stepping CEO transition, is

are fully continue available Driver Waymo begun And to testing Waymo this we will One San investments Pretty that so, development in accelerating Francisco. Waymo of San we deploy our rider is experience of quarter, there. autonomous in also and the limited in next-generation it Phoenix Francisco. had our past excited And the

And continue we making this that. we on operationalize focused make progress, can so technical executing we as and sure so really hard toward will so the that

Doug Anmuth

Okay. Thank both. you

Operator

Thank our from Jefferies. Brent question you. Thill next And from comes

now Your line is open.

Brent Thill

Thanks.

are what it As characterize to other the the the shape just you. any you to half you verticals that you travel of and of the am if pullout there of recover second some I the And hit harder the sectors? have recovery of industries, seeing may curious in Thank across relates in year? see have could yet that some been

Ruth Porat

So, a overall, results starting is we saw part year then and impact number strong reflect, the what last indicated we in of in lapping that areas. late in QX a the of pickup

consumption trends is we you bump about, repeat like if for how and examples, our home behavior the think doesn’t to point seeing, behavior to I this obvious at would are to are. will There so work-from-home, example, premature in that, think obviously think in the shift to it thing part an to in consumer some in that advertising really we endure. forecast for things you your outfitting with digital, is the want these extent leave main are to it’s consumer the main that is that but spend assess thing acceleration this and which we durable early too changes

Brent Thill

can terms specifically, just you front? -- of that travel, what seeing are any give you on In you in us have color

Ruth Porat

some had our to partners, where helpful a more Philipp to beyond add. nothing about Nothing be Yeah. to to that add. we trying are of comments couple to the areas innovate but of

Brent Thill

Great. you. Thank

Operator

our question America. from And from Thank comes Bank you. Post of next Justin

now open. is line Your

Justin Post

Maybe one one and for Ruth. Philipp for

experiences like And couple driving cost times that efficiencies couple model learning like gauge. of Search you year improvements, on verticals help that First, great post-pandemic are can pandemic to for Philipp, are we durability growth? you Ruth, the next years? are you. then you improvement the the Thank mentioned a the cost maybe it during on Search can that? shopping? what in you product about the side is last us of queries, Maybe efficiency showed changes about thinking thinking key you Anything How about think or drivers and or margins. things certain understand Is of over the of tough

Philipp Schindler

look Thank you key usually question. so of Search Thank the basically at as the I different components Yeah. you. for much four drivers.

The first one to information. the when are to we place obviously for they users queries, so best need really being turn the

it, I The second coverage. as call is, one would

then of have and ourselves, percentage covering commercial with So what need are do ask to is we really both percent what And upside. ads. then these of we actually coverage

or one conversion of here optimized, the large of their can and next-generation willing one just driven we And third to individual. to are obviously do right? machine to here. the sending, is and can this. rates for then extent by to close click-through rate being extent much The on is is we it what the answers, How delivering is bid then click-through there a obviously better is rates by is creative, deploy learning we someone better click quality ads, last driver more At traffic big this CPC, a ad better

working very rates Those world really optimize components and of across actually. help and the closely four am on them partners, our the are So about are I O/I. advertisers excited their to conversion four with big all and we so them their

Ruth Porat

In question terms appreciate of your on efficiency, question. the

approach level, at highest think, the I unchanged. is the

in approach operational velocity It are this of content investments our with of I allocation then It’s on our important improve time. efforts and and product past moderation. investing. think, very sure referring to value systems underscored sharper growth is like customers and to financially really what made this first security support making investing and then I and our us and your excellence, about of sustainable around served And to Our to of we areas ability excellence. throughout things period protect really those capital experiences long-term to foremost question, infrastructure, product improve and the the productivity, teams And deliver within to to keep support well year is operational businesses. the privacy being technical having

unaltered. is framework that So

it the in said of that think lapping and what of certain I are due from benefit times a losses, are credit were quarter. seeing and the in couple first the some there impact things part like things The items notable COVID T&E marketing. quarter, of have now, allowance lower for were the I but for you the life depreciation that then just to

are, continue efficiencies continue so we looking that And both will point so but maintain Cloud, Services ensuring users we in that customers. main growth, will they about for invest and and to Google the can you that referenced we is and areas, to that framework where long-term for deliver for

Justin Post

you. Thank Great.

Operator

Sebastian And our question Colin Baird. from comes next from you. Thank

is line Your now open.

Colin Sebastian

overall first, Sundar, are clearly differentiation machine where in seeing on including learning strength their more Cloud a competitors for afternoon. also that focus have highlighted capabilities Good here. Thanks. we the years Great. and you of platform, Services, is

am talk you desired say beyond I about shift retail you how to product Search across could increase platform to fair other Google on in success? the advertising there Thanks. and that And around in to if has in change the you listings pandemic wanted to the So I then, led Shopping. those of pace areas? follow-up are momentum can the sustain Is that Philipp, reasons competitive or attribute the the it to free that attribute that wondering science advantage its data Google for

Sundar Pichai

Obviously, AI, as -- with on it thinking we do. thanks. Colin, about we are foundational R&D all starts

I in think largest investors the we are R&D the world. in AI one of

taking foundational many so and it areas thinking doing we we all are that And ahead are approaches. diverse across and the doing and

taking earlier spoke we about to to to as improvements offerings breakthroughs, I customers translated are committed it AI as GCP enterprise search and BERT So that well. as And the how transformers similarly bringing we improve through and very our quality. make our

we committed of approach thinking to it at all the and an are stack. we -- it’s as deeply So layers are

So tool of see hard this about on chain is and work think top developers for you the all TPUs why on that. us we

I differentiated -- Philipp, progress down and so competitive -- excited feel a and the that’s think so more be advantage. I And and if am there’s will as I Google you. the look over to I ahead, progress I our at time over coming lot pretty think, GCP pipe why

Philipp Schindler

been Yes. and brought Bill are it’s we retailers onboard, support Shopping Bill our we build are we since better look, retail progress year strategy to we with and an Ready on a open the and pivoted to side, pleased Shopping And ecosystem trying the making. consumers, really

streamline more we In PayPal a promote actually their to free particular, partnerships with trying experience, powerful back-end to the will call me the and be a that said, had user combination and retailers retail. merchant commissions set end-to-end experience are giving of We a merchants, choice. let is you products zero simplify to one. the, for streamline hybrid paid ads listings And hard and course. retailers. of are it, new As retailers and Shopping for to and have online working various way free continue of lowered and we for Shopify a meaningful continue lot to especially

strength appear and So, mentioned on in started brick-and-mortar and have both surfaces retailers retailers play that in overall much want to Google retail I and to make their for before. overall in digital. across we And information it easier get much,

you. thank So

Colin Sebastian

Thanks, guys.

Operator

our you. Mark from ISI. comes from next Thank And Mahaney question

now is line Your open.

Mark Mahaney

that’s world new think a ask Thanks. of ad this back the way, this same your in tailwind I my onto around it of I unfortunate of we have year impact it’s for country we to huge record your and had linear I COVID. is, like the time advertisers, formations the TV ask real over to attempts business? numbers budgets have But wanted and guess I on YouTube. At think the the had half online the of been think, channels I retain about business in tip

So talk you lot. retain that are ability retention the you What strategy? Thanks to your Google are in to been have you on to do? have able advertisers confident brought a you them, platform? advertiser new about How these

Philipp Schindler

disrupted they SMBs. many you been a So, referring has this. obviously, obviously to doubt has I online. their how new and key SMBs. mean are more to more catalyst has that a are frankly, customers. lot Obviously, can this creating consumer of But opportunities online. are They SMBs time year pandemic also for try buying spending consumers They are them challenging businesses, take lot is to the for of eager with there small businesses, I trends. are local and a support connect The pandemic no new new were the for and of willing brands been advertisers that a

and support lot faster. really tools, that’s SMBs over they where And a up simpler. year, helping for embrace last a digital we since so had solutions rates of coming YouTube back stories key very here to so see all them us this on. multiple as across and wide Search, have product, positively invested We is are from to on multiple, and making actually significantly them There everything range help online, searches Maps, focused discovered with get fascinating get our can our well. simpler been reflected local of So the year businesses really in we we have

Mark Mahaney

Okay. Philipp. Thank you,

Operator

Thank question Michael you. And from comes MoffettNathanson. Nathanson next from our

Your line open. is now

Michael Nathanson

I have one, Thank two, one for Philipp, you. Ruth.

I maybe order and going deploy wonder the change think useful we past the you represented that to life. we see next think to back, CapEx how future on to asked has categories, approach then -- in under we of where space to which spending is how capital which of CapEx on wonder come? the space in thinking still a that question you do as and years always spending, if could more you even But are percentage pandemic going Search. your terms So change bought the the of in marketing forward I geographies, of potentially And post-pandemic? on about Ruth, office about is step this we based lift company to couple

Ruth Porat

and be will seems the to I Philipp on CapEx… start go on ahead mute.

Michael Nathanson

Okay. Yeah.

Ruth Porat

question. …

Michael Nathanson

you. Thank

Ruth Porat

address I So, I parts. in two terms will think, of CapEx,

Search, think but are Cloud, seeing learning, in it’s and this about office there. machine and that no continuing that’s do what do to invest to you so we facilities, know, infrastructure change are here asked to technical in to we important continue will quarter we in our saw growth You and again Ads I in support

question But in you your work-from-home/work-from-office it’s office been I and we value looking office the a really -- we at have people that. bringing about So we are seeing facilities will very do core and the of think together model. clear, was hybrid be

we first, growing real employee. at less forward it looking are we factor into density are As estate per footprint our we we headcount, is, developing at our look what for offices,

So even and a slightly pace to we saw are quarter that and will What need work space for as a kind campuses environment. on up slower our are a build to we continue facilities. as of with for this space as continuing a look was the pace out what first you we spaces to so environment, hybrid to fit-outs, like. fit evolving in does we slower and we new pace our out But office the re-imagined the pick well continue there expect

investing will to we as So have been. be in around globe the campuses we continue

Philipp Schindler

pricing, addressing on and excited our and advertising so perspective and significant, business your TV the your are so line first a on. the budgets addressable so marketing are it. advertising, looking Keep mind, are Yes. product are we line question, in budgets from promotional part about And on we just above an at placements, market from on. sponsorships traditional everything perspective, so and look, of just not not very global Below really

to is acceleration this is of there pandemic. offline. Still So massive e-commerce in the more commerce XX% due still than

us is in there a are for opportunity budgets. use huge So context. a tap other There very across here different those the world into traditional to really

perspective. I for from about -- a query’s instant commercial how intent look a plenty here we from is growth at of there talked room perspective it and So

use to and well. do machine as as make continue ROI do for has we we drive in end should as incremental think, we partner the to be, see budgets well, how trying successful, our are I focus really We way how this to learning our smartly continue actually the here. But them real we move long

Michael Nathanson

you. Thank

Operator

you. And from question Fargo. the comes Thank final line Fitzgerald of our Brian from Wells

now is line open. Your

Brian Fitzgerald

guys. Hi,

if into years? had GCP of around wondering creating some of technology over few data your strength products like products You have some more analytic you in in the you on the tech in business. Network mentioned in side of also effect supply the similar Thanks. last the in ramp deeply if a stack, drawing your on able the doing. customers comment And am be side advertiser are might wondering the specifically changes made this BigQuery? a demand how maybe the to May strong have is I that vein, products

Ruth Porat

both in do opening The all comments, on I terms really and in commented partners’ reflect what across broad app the and AdMob that. briefly our noted was saw seeing Ad campaigns. are Network the Particularly of what this each about based results what talked properties of and I on overall think quarter. us was So that. in ongoing advertiser in And of Manager, we what Philipp I just in strength we first particular underscores strength as spend, revenues, is strength

Brian Fitzgerald

Thanks, Ruth.

Ruth Porat

you. Thank

Operator

turn like And to session. back you. Thank closing conference Friedland to concludes question-and-answer Jim over the that I’d for any our remarks.

Jim Friedland

with look for quarter on you have everyone a to and our call. today. XXXX speaking again joining forward you us We Thank evening. Thanks second good

Operator

This concludes may and now Thank call. you participating you today’s disconnect. conference for

Alphabet (GOOG) 28 Apr 212021 Q1 Earnings call transcript