Interim reports | The result of Google's parent company exceeded expectations – in the background the success of cloud services, YouTube and search engine advertising

Google the parent company Alphabet's stock went up sharply as a result of a better-than-forecasted start to the year.

The company said on Thursday that in the first quarter, it made an operating profit of 23.7 billion dollars, i.e. slightly more than 22 billion euros, with a turnover of more than 80 billion dollars.

Compared to the same time last year, net income increased by 57 percent and turnover by 15 percent.

As a result of the results announcement, the company's stock rose by more than 12 percent on the aftermarket.

According to Alphabet, the background of the good result is the growth of cloud services, video platform YouTube and search engine advertising.

Advertising turnover grew by about 13 percent from a year ago to 61.7 billion dollars, or just under 58 billion euros. The net sales of Google's cloud services, on the other hand, grew by more than a quarter from last year to 9.5 billion dollars, or slightly less than 9 billion euros.

World In addition to Google, the largest providers of cloud services are Microsoft and Amazon. All three have also invested in artificial intelligence.

CEO of Alphabet Sundar Pichai according to the development of artificial intelligence has helped the business of Silicon Valley's technology giants.

“Our Gemini era is well over,” Pichai said, referring to the AI ​​model Google uses in its services.

One of the concerns of the artificial intelligence competition is that the development of artificial intelligence technologies that require enormous computing power may be left only to large companies, as smaller companies do not have massive data centers in use like the tech giants.