Google's corporate parent Alphabet Inc. on Thursday released a quarterly report showing it's still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence.The results for the first three months of the year provided the latest evidence that Google has regained its momentum after an unprecedented downturn in 2022 coming out of the pandemic.
If Alphabet's shares move in a similar trajectory during Friday's regular trading session, the stock will hit a new all-time high that will push the company's market value above $2 trillion.As has been the case since throughout the company's history, most of the money came in through a digital advertising network anchored by Google's dominant search engine. Google's ad revenue totaled $61.66 billion in the first quarter, up 13% from last year.
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