The pandemic has been for Google’s bottom line, according to Bloomberg:
With Covid-19 restrictions lifting, more people are booking trips and hotels online, which is very good for Google’s advertising business. Google’s employees, however, are working from home and not traveling as much on the company dime — and that’s also good for its business.
During the first quarter, Google parent Alphabet Inc. saved $268 million in expenses from company promotions, travel and entertainment, compared to same period a year earlier, “primarily as a result of COVID-19,” according to a company filing.
On an annualized basis, that would be more than $1 billion.
However, Google plans to return to the office later this year. Chief Financial Officer Ruth Porat told investors the company is planning a “hybrid” model, spacing staff less densely than before. Porat also said Google will continue to invest in its real estate across the globe.