Alphabet misses on revenue as YouTube ad business slowed by Ukraine war

Chennai: Google's parent company, Alphabet saw a decline in net income to $16.43 billion this quarter from $17.93 billion in the same quarter last year.

The revenue grew by 23% year-over-year to touch $68.01 billion in the quarter ended March as opposed to $55.31 billion. The stock was down over 3.5% on Nasdaq soon after the results were announced.

“Q1 saw strong growth in Search and Cloud, in particular, both are helping people and businesses as the digital transformation continues," Sundar Pichai, chief executive officer (CEO) of Alphabet and Google, said in a statement.


Google’s services revenue totaled $61.47 billion— that includes advertising revenue of $54.66 billion and other revenue of $6.81 billion—while cloud revenue hit $5.82 billion. Other revenue includes applications, hardware, and subscription sales.

The company said revenues from Google Search went up from $31.87 billion to $39.61 billion on a yearly basis. In the quarter ended March, revenues from Google Cloud went up to $5.82 billion from $4.04 billion on a yearly basis.

Pichai also added that the company will keep investing in products and services and create opportunities for partners and local communities around the world.

Total income from operations stood at $20.09 billion in comparison to $16.43 billion year-over-year

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

The number of employees in the company went up from 139,995 in Q1FY21 to 163,906 IN Q1FY22.