Alphabet today announced Q1 2023 earnings with $69.8 billion in revenue. These numbers range from January to March.
Revenue is up 3% from $68 billion in Q1 2022, with operating income at $17.415 billion and net income of $15.05 billion for this quarter (versus $16.44 billion a year ago). For comparison, Alphabet reported $76 billion in revenue and $13.62 billion in net income last quarter.
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. Our North Star is providing the most helpful answers for our users, and we see huge opportunities ahead, continuing our long track record of innovation.
Sundar Pichai, CEO of Google and Alphabet
Resilience in Search and momentum in Cloud resulted in Q1 consolidated revenues of $69.8 billion, up 3% year over year, or up 6% in constant currency. 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.
Ruth Porat, CFO of Google and Alphabet
In Q1 2023, YouTube ad revenue was $6.69 billion (versus $6.87 billion a year ago), while Cloud reported $7.45 billion (compared to $5.82 billion).
“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $7.41 billion, compared to $6.82 billion the same quarter last year.
“Other Bets” continues to lose money. However, it reported $288 million revenue from $440 million in Q1 of 2022. However, it lost $1.2 billion compared to $835 million (recast) in the same quarter of last year.
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