Alphabet reports revenues growth, net income decline in first quarter

0 Comment(s)Print E-mail Xinhua, April 26, 2023
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SAN FRANCISCO, April 25 (Xinhua) -- Alphabet Inc., Google's parent company, on Tuesday reported its first-quarter revenue at 69.8 billion U.S. dollars, up 3 percent from the same period last year.

Announcing its financial results for the quarter ending March 31, the company said its net income was 15.05 billion dollars, or 1.17 dollars of earnings per diluted share, compared with 16.44 billion dollars, or 1.23 dollars of earnings per diluted share in the same period of 2022.

Among the entire quarterly revenue of 69.8 billion dollars, 61.96 billion dollars came from Google Services and YouTube advertising, compared with 61.47 billion dollars in the first quarter of 2022.

The quarterly financial report also showed that Google Cloud sales grew to 7.45 billion dollars from 5.82 billion dollars in the same period of 2022.

"We are pleased with our business performance in the first quarter, with Search performing well and momentum in Cloud. We introduced important product updates anchored in deep computer science and AI," said Sundar Pichai, CEO of Alphabet and Google.

"We remain committed to delivering long-term growth and creating capacity to invest in our most compelling growth areas by re-engineering our cost base," said Ruth Porat, CFO of Alphabet and Google. Enditem

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