Alphabet Q1 revenue $69.8B, up 3%; Cloud turns profitable; authorizes $70B buyback

Alphabet Inc.

2023-Q1 EPS reported $1.17 revenue$69,787,000,000

Revenue $69.8B, up 3% YoY (+6% CC); GAAP diluted EPS $1.17 (vs $1.23).
Google Cloud revenue $7.5B (+28% YoY); operating income $191M, turning profitable from loss $706M.
Recorded $2.6B in charges from workforce reduction ($2.0B severance) and office space optimization ($564M).
Board authorized additional $70B share repurchase program on April 19, 2023.
Extended server useful life to 6 years, reducing depreciation $988M, boosting net income $770M ($0.06/share).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Alphabet Inc. reported quarter ended March 31, 2023 results: revenue $69,787, net income $15,051, EPS $1.17.

Period: quarter ended March 31, 2023
Revenue: $69,787
Net income: $15,051
EPS: $1.17
Result: reported results

Exact text from the filing

Quarter Ended March 31, 2022 2023 Revenues $ 68,011 $ 69,787 Change in revenues year over year 23 % 3 % Change in constant currency revenues year over year (1) 26 % 6 % Operating income $ 20,094 $ 17,415 Operating margin 30 % 25 % Other income (expense), net $ (1,160) $ 790 Net income $ 16,436 $ 15,051 Diluted EPS $ 1.23 $ 1.17

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Source: SEC EDGAR

accession 0001652044-23-000041

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