Alphabet (Google) just had its quarterly results a few moments ago published. Here are the most important dates.
Sales are $69.79 billion, down from $68.01 billion in the same quarter last year. Expectations for today were $68.86 billion.
Earnings per share are $1.17, down from $1.23 in the same quarter last year. Expectations for today were $1.06.
The operating margin falls from 30 percent in the previous year to 25 percent.
Ad revenue fell minimally year over year to $54.55 billion from $54.66 billion.
YouTube ad revenue falls slightly from $6.87 to $6.69 billion.
The cloud business grows from $5.82 to $7.45 billion. Important and very surprising: For the first time this division delivers a profit of 191 million dollars (previous year -706 million dollars).
The number of employees increased year-on-year from 163,906 to 190,711.
The share is trading at +3.4% after hours.
According to current Report also approved $70 billion in share buybacks.
Here are the wording of the headline statements from the CEO and CFO:
Sundar Pichai, CEO of Alphabet and Google, said: “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.”
Ruth Porat, CFO of Alphabet and Google, said: “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.”