Alphabet Inc reports revenue growth in Q1 2023

Alphabet Inc reports revenue growth in Q1 2023

San Francisco (Reportase One) – Alphabet Inc., Google’s parent company, Tuesday (25/4), reported first-quarter (Q1) 2023 revenue of $69.8 billion, up 3 percent from the same period last year.

“We were pleased with our business performance in Q1 with Search performing well and momentum in the Cloud. We introduced a number of important product updates based on deep computer science and artificial intelligence (AI),” said Alphabet and Google CEO Sundar Pichai.

While announcing financial results for the quarter ended March 31, the company disclosed net profit of US$15.05 billion, or US$1.17 diluted earnings per share, down compared to US$16.44 billion, or US$1.23 profit. per diluted share for a similar period in 2022.

Of the total revenue of 69.8 billion US dollars earned in Q1; 61.96 billion US dollars of which came from Google Services and YouTube advertising. This figure is higher than the US$61.47 billion recorded in Q1 2022.

The Q1 financial report also showed that Google Cloud sales grew to US$7.45 billion from US$5.82 billion booked in the same period in 2022.

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

Messenger: Xinhua
Editor: Fransiska Ninditya


Source link