Google/Alphabet Revenues Were Up 23 Percent in Q1

Posted on April 26, 2022 by Paul Thurrott in Google with 8 Comments

Google parent company Alphabet announced that it earned a net income of $16.4 billion on revenues of $68 billion in the quarter ending March 31. Those figures represent a loss of 8.3 percent and a gain of 23 percent when compared to the same quarter one year ago.

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

Alphabet’s profit decline was due to a $1.07 billion loss from the value of Google’s investments, the firm reported. But no worries, folks, its advertising business grew by over 22 percent year-over-year (YOY) to $54.7 billion. Advertising now accounts for over 80 percent of Alphabet’s overall revenues.

Google/Alphabet’s other businesses were less impressive. Google Cloud contributed $5.8 billion in revenues, up 31 percent YOY, though the business lost $931 million in the quarter. And Google “other” contributed $6.8 billion in revenues, up 4.4 percent.

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Comments (8)

8 responses to “Google/Alphabet Revenues Were Up 23 Percent in Q1”

  1. lvthunder

    Investments? What did Google buy some bad stocks or something?

    • Jack

      Alphabet has venture capitalist divisions.

    • anoldamigauser

      They added some 17,000 employees as well as data centers. Like all companies they invest in expanding their business.

      • digiguy

        That's a different thing actually. The mentioned loss was in their financial investment in other companies. Costs went up indeed and this contributed to the reduced earnings (althought this article attributes the decline only to the financial investment, which was actually not the only factor), but that loss is different from the increase in costs (the business expansion is an economic investment, while the loss was on financial investments).

    • digiguy

      Yes, the $1.07bn dollar loss was mainly on investments in Lyft and ADT.

      • lvthunder

        They invested in ADT? The old school security company. Yikes. Even I know that's a loser. Don't they have products designed to help put them out of business?

  2. anoldamigauser

    ...and they probably bought back some stock, too.

  3. lvthunder

    I heard on the news though that these numbers were below expectations.