Today, Google"s parent company Alphabet announced its earnings for the first calendar quarter of 2020, reporting $41.159B in revenue. Unsurprisingly, the bulk of that comes from Google itself, with Google offering $40.975B. $135 million and $49 million came from other bets and hedging gains, respectively. Total growth in revenue is 13%.
As usual, the vast majority of it all comes from Google advertising. Google"s ads accounted for $33.763B in revenue for 10% growth year-over-year. Out of that, Google search provided $24.502B in revenue, and YouTube ads brought in $4.038B. Aside from advertising, Google Cloud accounted for $2.777B in revenue, for an impressive 52% growth.
"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."
Total operating income was $7.977B, which is the same for GAAP and non-GAAP. However, the same quarter last year had a higher operating income using non-GAAP, affecting the operating margin. Operating income for Google was $9.27B, while other bets had a $1.121B operating loss.
Total net income for Alphabet was $6.836B, a 2.68% increase year-over-year. Earnings per-share was $9.96, and diluted earnings per share was $9.87.