According to a financial statement, Alphabet, Google's parent company, saw its revenue rise to $55.3 billion in the first quarter of this year.

Income rose by 34% over the same period last year.

Silicon Valley, on the other hand, outperformed quarterly revenue estimates of $51.7 billion, as the recovering economy combined with the increasing use of online services to speed up its advertising and cloud business.

Facebook results for the fourth quarter of 2020, announced last January, showed a 53% increase in profits last year compared to 2019, while Facebook will provide its next update today Wednesday, reporting its first quarter earnings.

Last January, Apple announced that it had also had a booming year, with revenues exceeding $100 billion in the three months to the end of December.

AMAZON will also announce its first-quarter profit next Thursday, emerging from a brilliant fourth quarter with sales of up to $125 billion.