Alphabet reports Q1 revenue with 23 pct growth

SAN FRANCISCO, April 26 (Xinhua) -- Alphabet Inc., Google's parent company, on Tuesday reported its first-quarter revenue at 68 billion U.S. dollars, up 23 percent from the same period last year.

Announcing its financial results for the quarter ending March 31, the company said that its net income was 16.44 billion dollars, or 24.62 dollars of earnings per diluted share, compared with 17.93 billion dollars, or 26.29 dollars of earnings per diluted share in the same period of 2021.

Among the entire quarterly revenue of 68 billion dollars, 61.47 billion dollars came from Google Services and YouTube advertising, compared with 51.18 billion dollars in the first quarter of 2021, according to the company's financial report.

The quarterly report also showed that Google Cloud sales grew to 5.8 billion dollars from 4 billion dollars in the same period of 2021.

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

"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," said Sundar Pichai, CEO of Alphabet and Google.