Market Updates
Alphabet Earnings Fall On Slower Revenue Growth
Scott Peters
26 Jul, 2022
New York City
Alphabet reported its slowest quarterly revenues increase in two years as rising dollar and weakening economic backdrop impacted advertising environment.
Alphabet Inc said second quarter revenues increased 13% or 16% in constant currencies to $69.7 billion.
Operating income in the quarter rose to $19.5 billion from $19.4 billion a year ago.
Operating margin declined to 28% from 31% a year ago on higher operating costs.
Net income fell to $16.0 billion from $18.5 billion and diluted earnings per share fell to $1.21 from $1.36 a year ago.
Segment Breakdown
Total advertising revenues increased to $56.3 billion from $50.4 billion and traffic acquisition costs increased to $12.2 billion from $10.9 billion a year ago.
Google search revenues increased to $40.7 billion from $35.8 billion and ads on the YouTube channel increased to $7.3 billion from $7.0 billion a year ago.
Google cloud revenues increased to $6.3 billion from $4.6 billion, an increase of 37% from a year ago.
Google headcount increased by about 30,000 to 174,014.
Annual Returns
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Earnings
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