Alphabet Inc., the parent company of Google, has reported an 81% increase in Q1 earnings and a 22% rise in revenue to $109.9 billion, exceeding analyst forecasts. The company earned $62.6 billion, or $5.11 per share, during the period. This growth has helped to more than double its already high market value and the company's market value to $4.2 trillion, up from $1.9 trillion a year ago. The performance led to a 6% increase on the stock price after the news, and the CEO, Sundar Pichai, praised the company for its investments in AI technology over the past three years. The fastest growing division in the company is its Cloud division, which has seen significant growth.