Google - How did it perform for Q1'23?

This is the first quarter where everyone is anticipating whether Google gets to keep its crown jewel - Google Search.

Here are some of the main points of Google's Q1'23 results.

Out of the Google advertising segment, Google Search remains stable. The components dragging down Gooel advertising are the drop in YouTube ads and Google Network.

Google Cloud continues growing at an impressive rate as well.

Not all companies can manage rising costs and report better operating income. Alphabet is one of these companies sadly. It booked a corporate cost, which includes charges related to workforce reduction and office space at USD 2.5 billion.

Even though revenue grew, income from operations dropped. Google services operating income dipped, while Other bets incurred deeper losses.

Fortunately, the cloud business finally turned profitable.

Now even though Google has finally released its AI chatbot Bard, and AI is set to help pivot the company to new territories and opportunities, finance chief Ruth Porat said due to the challenging economic environment “the outlook remains uncertain.”

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