$Alphabet-A(GOOGL.US)$ reported Q1 revenue of $68.01 billion, up 23% year-over-year and 26% in constant currency terms. The consensus was $68 billion.
Google parent clocked $39.62 billion (+24.3% Y/Y) in revenue from the 'Google search and other' segment, $6.87 billion (+14.4% Y/Y) from YouTube ads, $8.17 billion (+20.2% Y/Y) from Google Network, totaling to $54.66 billion from Google advertising.
The search giant reported $6.81 billion from 'Google other' and $5.8 billion (43.8% Y/Y) from Google Cloud.
Google's traffic acquisition costs grew by 23.5% Y/Y to $1.99 billion. Its employee headcount increased by 20,000 Y/Y to 163,906.
EMEA revenues were $20.32 billion, APAC was $11.84 billion, and the U.S. generated $31.74 billion in revenue.
Sundar Pichai-led company clocked an operating income of $20.09 billion with an operating margin of 30%, which remained flat versus last year. Q1 adjusted EPS of $24.62 missed the consensus of $26.11, a rare miss after seven quarters of consistent beat.
Alphabet's board has authorized a huge stock buyback program of $70.0 billion of its Class A and Class C shares, representing about 4% of its market cap based on the last closing price.
The company ended Q1 with $133.97 billion in cash and equivalents, down from $139.65 billion last in Q4. It generated an operating cash flow of $25.11 billion, up from $19.30 billion last year. It spent $13.30 billion in Q1 for stock buyback and generated a free cash flow of $15.32 billion.
Price Action: GOOG shares are down 5.11% to $2,268 in the after-hours session on the last check Tuesday.