Alphabet’s 2019 Q1 Results Are In

Posted by at 3:44 pm on April 29, 2019

Alphabet has announced Q1 2019 earnings to start the new year with revenue of $36.33 billion. It notably takes into account the $1.7 billion fine levied by the European Commission over Google AdSense violations. These numbers range from January to March, and did not meet analysis expectations with the stock down over 4% in after-hours trading.

Revenue is up 17% from $31.1 billion in Q1 2018, with net income at $6.6 billion for this quarter. For comparison, Alphabet reported $39.27 billion in revenue and a $8.94 billion in net income last quarter. Analyst for Q1 2019 were expecting $37.33B in revenue,

“We delivered robust growth led by mobile search, YouTube, and Cloud with Alphabet revenues of $36.3 billion, up 17% versus last year, or 19% on a constant currency basis,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “We remain focused on, and excited by, the significant growth opportunities across our businesses.”

Other revenue — which includes hardware, Play Store, and Google Cloud enterprise efforts — reported $5.4 billion, compared to $4.3 billion the same quarter last year.

 

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