Google owner Alphabet has reported another quarter of record profit but warned that it was too early to say how long trends that have boosted its performance during the pandemic would last.
Net profit for the first quarter of $17.9bn was more than double the $6.8bn result recorded a year ago while revenues surged 34% to $55.3bn.
The company’s finance director Ruth Porat said the sales growth reflected “elevated consumer activity online and broad-based growth in advertiser revenue”.
Alphabet’s brands include the Google search engine as well as YouTube, the video platform.
Its results reflect the way in which consumers have been forced to shop and communicate online during lockdowns but data showing a revival in eating out and flying in the US suggest the constrictions on their lives are starting to ease.
Ms Porat told analysts following Tuesday night’s results that it was “too early to forecast the extent to which these changes in consumer behaviour and advertising spend will endure”.
Another tech giant, Microsoft, also reported forecast-beating quarterly results, with net profit up 44% to $15.5bn on the same period last year and revenue up 19% to $41.7bn.
It has been boosted over the past year by an increased share of the booming market for cloud computing and the expansion of services such as Teams and professional social network LinkedIn.
The company has also enjoyed strong demand for its Windows operating systems an Xbox gaming consoles as people work and play from home.
Microsoft chief executive Satya Nadella said: “Over a year into the pandemic, digital adoption curves aren’t slowing down.
“They’re accelerating, and it’s just the beginning.”