Tech

Shares in Google parent Alphabet jump as ad sales recover

Alphabet shares rise 5.9 per cent after closing at $103.85

Google continues to fare better than its rivals as economic pressures force advertisers to reduce their spending

Google parent Alphabet reported first-quarter results that exceeded analysts’ estimates, demonstrating that its search advertising business is so far weathering the economic downturn and increased competitive threats.

Sales, excluding partner payouts, were $58.07 billion in the quarter, the company said late Tuesday in a statement. That topped analysts’ projections for $56.98 billion. Shares rose.

Google continues to fare better than its rivals as economic pressures force advertisers to reduce their spending. Search advertising has been ...