Alphabet: EPS down 5% in first quarter

(CercleFinance.com) - Alphabet on Tuesday evening reported net profits of a little over 15 billion dollars for the first quarter of 2023, i.
e. EPS down close to 5% to 1.17 dollars, with operating margin declining five points to 25%.

The tech giant, notably the parent company of search engine Google and platform YouTube, saw its revenues grow 3% (+6% at constant exchange rates) to 69.8 billion dollars, chiefly supported by Google Cloud (+28%).

“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,” says CFO Ruth Porat.

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