Alphabet’s Q1 profit beats expectations, with Google’s big AI bets paying off

Google’s transition into the era of artificial intelligence continued to pay off for its corporate parent, Alphabet Inc. , which on Wednesday announced another quarter of stellar growth that helped to more than double its already lofty market value during the past year. Alphabet earned $62.6 billion, or $5.11 per share, during the January-March period, an 81% increase from the same time last year.