Market Updates
Alphabet Revenue Growth Slows, Plans $70 Billion Buyback
Scott Peters
26 Apr, 2022
New York City
Alphabet Inc reported first-quarter 2022 revenues increased 23% to $68 billion, net income fell 8.3%, diluted earnings per share eased to $24.62 from $26.29.
The revenue growth in the first-quarter eased to 23% from 34% a year ago and in constant currency slowed to 26% from 32% respectively.
Total advertising revenues increased 20% to $61.4 billion from $51.2 billion, search revenues increased 25% to $39.6 billion from $31.9 billion, Google Network revenues rose to $8.2 billion from $6.8 billion, and YouTube revenues advanced 13% to $6.8 billion.
The company's board authorized a share repurchase plan of $70 billion.
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