Alphabet Inc reports 13% rise in revenue in Q1 FY20
Revenue which stood at $41.2 billion was driven by Google Search, YouTube, and Cloud
Alphabet Inc. (NASDAQ: GOOG, GOOGL) has announced financial results for the quarter ended March 31, 2020.
“Given the depth of the challenges so many are facing, it’s a huge privilege to be able to help at this time,” said Sundar Pichai, Chief Executive Officer of Alphabet and Google. “People are relying on Google’s services more than ever and we’ve marshalled our resources and product development in this urgent moment.”
“Our business, led by Search, YouTube, and Cloud, drove Alphabet revenues to $41.2 billion, up 13% versus last year, or 15% on a constant currency basis,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “Performance was strong during the first two months of the quarter, but then in March, we experienced a significant slowdown in ad revenues. We are sharpening our focus on executing more efficiently while continuing to invest in our long-term opportunities.”
Q1 2020 financial highlights
The following table summarizes consolidated financial results for the quarters ended March 31, 2019, and 2020 (in millions, except for per share information and percentages; unaudited).
Prior period results excluding the effect of the European Commission (EC) fine of $1.7 billion have been included to facilitate comparison to current quarter performance (labelled “Non-GAAP”).
