Alphabet (Google’s parent company) today released earnings for the first quarter of fiscal 2022, which ended March 31. The report shows that Alphabet’s total revenue in the first quarter was US$68.011 billion, an increase of 23% compared with US$55.314 billion in the same period of the previous year, and a year-on-year increase of 26% excluding the impact of exchange rate changes; according to US GAAP, Alphabet’s No. Net profit for the first quarter was US$16.436 billion, down 8% from US$17.930 billion in the same period last year.
Main achievement:
– Alphabet’s total revenue in the first quarter was $68.011 billion, an increase of 23% compared with $55.314 billion in the same period last year, or a 26% year-on-year increase excluding the impact of exchange rate changes. Alphabet calculates total revenue in accordance with GAAP, before deducting traffic acquisition costs (TAC). Alphabet’s total traffic acquisition cost, or revenue shared with partners, was $11.990 billion in the first quarter, compared to $9.712 billion in the same period last year;
–According to US GAAP, Alphabet’s first-quarter operating profit was $20.094 billion, accounting for 30% of total revenue (ie, operating profit margin). According to US GAAP, Alphabet’s operating profit in the same period last year was $16.437 billion, accounting for 30% of total revenue;
——According to US GAAP, Alphabet’s first-quarter net profit was US$16.436 billion, down 8% from US$17.930 billion in the same period last year;
— On a GAAP basis, Alphabet earned $24.62 per diluted share in the first quarter, compared with $26.29 per diluted share a year earlier. Alphabet’s total shares outstanding, used to calculate diluted earnings per share, were 668 million in the first quarter, compared with 682 million a year earlier.
Results compared to analyst expectations:
Alphabet’s total revenue for the first quarter was $68.011 billion, slightly below analysts’ expectations. According to data provided by the Yahoo Finance website, 29 analysts had expected Alphabet’s first-quarter revenue to reach $68.07 billion on average.
Alphabet’s first-quarter diluted earnings per share were $24.62, which also missed analysts’ expectations. According to data provided by the Yahoo Finance website, 29 analysts had expected Alphabet’s first-quarter earnings per share to reach $25.94 on average.
Affected by this, after the earnings report, Alphabet shares fell sharply by more than 6% in after-hours trading in the New York market.
Executive comments:
“Search and cloud grew strongly in the first quarter, both of which are helping individuals and businesses as digital transformation continues,” said Alphabet CEO Sundar Pichai. We will continue to invest in superior products and services and create opportunities for our partners and local communities around the world.”
Alphabet CFO Ruth Porat said: “We are pleased with the 23% year-over-year increase in revenue in the first quarter. We continue to make thoughtful investments in capital expenditures, R&D and people to create value for our shareholders. long-term value.”
financial analysis:
Alphabet’s total revenue in the first quarter was $68.011 billion, up 23% from $55.314 billion in the same period a year earlier. If exchange rates were flat year-over-year (excluding gains related to the foreign exchange risk management program), Alphabet’s first-quarter revenue growth would have been 26% year over year.
First-quarter revenue from Google Search and Other, Alphabet’s Google unit, was $39.618 billion, compared with $31.879 billion a year earlier; YouTube advertising revenue was $6.869 billion, compared to $31.879 billion a year earlier. $6.005 billion.
Alphabet’s Google unit’s first-quarter web revenue, or revenue from Google partner sites through the AdSense program, was $8.174 billion, compared with $6.800 billion a year earlier.
Alphabet’s Google unit posted $54.661 billion in ad revenue in the first quarter, compared to $44.684 billion a year earlier.
Other revenue for Alphabet’s Google unit was $6.811 billion in the first quarter, compared with $6.494 billion a year earlier.
Alphabet’s Google unit’s first-quarter combined services revenue, which is the sum of revenue from each of the above businesses, was $61.472 billion, compared with $51.178 billion a year earlier.
Alphabet’s Google unit’s Google Cloud revenue in the first quarter was $5.821 billion, compared with $4.047 billion a year earlier.
Revenue from Alphabet’s “Other Bets” business was $440 million in the first quarter, compared with $198 million a year earlier.
Alphabet’s first-quarter hedging gain was $278 million, compared with a hedging loss of $109 million a year earlier.
By region, Alphabet’s revenue from the EMEA (Europe, Middle East and Africa) region in the first quarter was $20.317 billion, an increase of 19% compared with $17.031 billion in the same period last year, but compared with $23.153 billion in the previous quarter Compared with the decrease of 12%. Not in accordance with US GAAP (excluding the impact of exchange rate changes), based on the exchange rate in the first quarter of 2021, Alphabet’s revenue from the EMEA region in the first quarter was $21.628 billion, an increase of 27% year-on-year; based on 2021 In the fourth quarter, Alphabet’s revenue from the EMEA region in the first quarter was $20.836 billion, down 10% from the previous quarter.
Alphabet’s first-quarter revenue from the Asia-Pacific region was $11.841 billion, up 13 percent from $10.455 billion in the same period a year earlier, but down 7 percent from $12.732 billion in the previous quarter. Not in accordance with US GAAP (excluding the impact of exchange rate changes), based on the exchange rate for the first quarter of 2021, Alphabet’s revenue from the Asia-Pacific region in the first quarter was $12.44 billion, an increase of 19% year-on-year; based on 2021 In the fourth quarter, Alphabet’s revenue from the Asia-Pacific region in the first quarter was $11.975 billion, down 6% from the previous quarter.
Alphabet’s first-quarter revenue from the U.S. was $31.733 billion, up 27 percent from $25.032 billion a year earlier, but down 9 percent from $34.790 billion in the previous quarter.
Alphabet’s first-quarter revenue from the rest of the Americas was $3.842 billion, up 32 percent from $2.905 billion in the same period a year earlier, but down 14 percent from $4.447 billion in the previous quarter. Not in accordance with U.S. GAAP (excluding the impact of exchange rate changes), Alphabet’s first-quarter revenue from the rest of the Americas was $3.923 billion at exchange rates for the first quarter of 2021, an increase of 35% year-on-year; based on 2021 In the fourth quarter of this year, Alphabet’s revenue from the rest of the Americas in the first quarter was $3.854 billion, down 13% from the previous quarter.
Alphabet’s traffic acquisition spending (TAC), or revenue shared with partners, was $11.990 billion in the first quarter, compared with $9.712 billion a year earlier.
Alphabet’s total costs and expenses in the first quarter were $47.917 billion, compared with $38.877 billion a year earlier. Among them, Alphabet’s cost of revenue in the first quarter was $29.599 billion, compared with $24.103 billion in the same period last year; research and development expenses were $9.119 billion, compared with $7.485 billion in the same period last year; sales and marketing expenses were $5.825 billion, compared to $4.516 billion a year earlier; general and administrative expenses were $3.374 billion, compared to $2.773 billion a year earlier.
Alphabet’s other expenses (net value) were $1.160 billion in the first quarter, compared with other income (net value) of $4.846 billion a year earlier.
According to US GAAP, Alphabet’s first-quarter operating profit was $20.094 billion, accounting for 30% of total revenue (ie, operating profit margin). According to US GAAP, Alphabet’s operating profit was $16.437 billion in the same period last year, which also accounted for 30% of total revenue.
Alphabet’s Google Services division reported operating profit of $22.920 billion in the first quarter, compared with $19.546 billion in the same period a year earlier; Google’s cloud division posted an operating loss of $931 million in the first quarter, compared with an operating loss of $19.546 billion in the same period last year. Operating loss in the Other Bets business was $1.155 billion in the first quarter, compared to an operating loss of $1.145 billion in the prior year period; unallocated corporate expenses in the first quarter were $740 million, compared to The same period last year was $990 million.
According to US GAAP, Alphabet’s first-quarter net profit was $16.436 billion, down 8% from $17.930 billion in the same period last year;
On a GAAP basis, Alphabet earned $24.62 per diluted share in the first quarter, compared with $26.29 per diluted share a year earlier. Alphabet’s total shares outstanding, used to calculate diluted earnings per share, were 668 million in the first quarter, compared with 682 million a year earlier.
As of March 31, 2022, Alphabet held cash and cash equivalents totaling $20.886 billion, compared to $26.622 billion as of March 31, 2021.
As of March 31, 2022, Alphabet employed a total of 163,906 full-time employees worldwide, compared to 139,995 as of March 31, 2021.
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