Alphabet Misses

October 26, 2022

Alphabet reported financial results for the quarter ended March 31, 2022. The firm had earnings per share of $1.06 with $1.25 expected. On the revenue line, Alphabet took in $69.09 billion with $70.58 billion expected.

YouTube advertising revenue was $7.07 billion with $7.42 billion sought by the Street. Google Cloud revenue came in at $6.9 billion with $6.69 billion estimated.

Sundar Pichai, CEO of Alphabet and Google, said: “Q1 saw strong growth in Search and Cloud, in particular, which are both helping people and businesses as the digital transformation continues. We’ll keep investing in great
products and services, and creating opportunities for partners and local communities around the world.”

Ruth Porat, CFO of Alphabet and Google, said: “We are pleased with Q1 revenue growth of 23% year over year. We continue to make considered investments in Capex, R&D and talent to support long-term value creation for all
stakeholders.”