Alphabet Inc. Q1 FY2022 Earnings Call
· Earnings call transcript and AI-powered summary
Overview
- Alphabet reported strong Q1 2022 results with continued momentum in Search and Cloud, though YouTube experienced modest growth compared to an exceptional Q1 2021.
- Consolidated revenues were $68 billion, up 23% year-over-year (YoY) or 26% in constant currency.
- Operating income reached $20.1 billion (up 22% YoY) with a 30% operating margin.
Key Financial Highlights
- Google Services revenue: $61.5 billion, up 20% YoY.
- Search & Other Ads revenue: $39.6 billion, up 24% YoY, led by retail and travel.
- YouTube Ads revenue: $6.9 billion, up 14% YoY, but growth decelerated sharply compared to Q1 2021 due to lapping exceptional direct response performance and impacts from the war in Ukraine.
- Google Cloud revenue: $5.8 billion, up 44% YoY, with strong growth across both GCP and Workspace. Cloud operating loss was $931 million.
- Other Bets revenue: $440 million with an operating loss of $1.2 billion.
- Net income: $16.4 billion.
- Free cash flow: $15.3 billion in Q1 and $69 billion over trailing 12 months.
- Alphabet repurchased $52 billion of shares over the past 12 months; authorized an additional $70 billion in repurchases.
Business & Product Highlights
Search & AI
Continue Reading
Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.
Upgrade to ProfessionalContinue Reading
Unlock the full earnings call transcript with speaker labels and formatted dialogue.
Upgrade to Professional