Alphabet Q2 revenue $74.6B (+7% YoY); Cloud turns profitable; CFO Porat to become President & CIO

Alphabet Inc.

2023-Q2 EPS reported $2.61 revenue$144,391,000,000

Revenue $74.6B (+7% YoY); diluted EPS $1.44 (vs $1.21); operating margin 29% (vs 28%).
Google Cloud operating income $395M (first profit) vs loss of $590M a year ago; Cloud revenue $8.03B (+28% YoY).
CFO Ruth Porat to become President & CIO effective Sept 1, 2023, while continuing as CFO until successor found.
Workforce reduction charges $2.0B H1 2023; office space optimization charges $633M; 181,798 employees as of June 30.
Depreciation reduced by $966M in Q2 due to longer useful lives of servers and network equipment; net income impact $752M.

item 2.02 item 5.02 item 9.01

Executive movements

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Role change

Ruth Porat

President and Chief Investment Officer

GOOGL · Alphabet Inc.

Effective: 2023-09-01
Filed: July 25, 2023, 7:59 PM ET

On July 25, 2023, Alphabet announced that Ruth Porat will assume the newly created role of President and Chief Investment Officer of Alphabet and Google LLC (“ Google ”), effective September 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Alphabet Inc. reported quarter ended June 30, 2023 results: revenue 74,604, net income 18,368, EPS 1.44.

Period: quarter ended June 30, 2023
Revenue: 74,604
Net income: 18,368
EPS: 1.44
Result: reported results

Exact text from the filing

Q2 2023 Financial Highlights (unaudited) The following table summarizes our consolidated financial results for the quarters ended June 30, 2022 and 2023 (in millions, except for per share information and percentages). Quarter Ended June 30, 2022 2023 Revenues $ 69,685 $ 74,604 Change in revenues year over year 13 % 7 % Change in constant currency revenues year over year (1) 16 % 9 % Operating income $ 19,453 $ 21,838 Operating margin 28 % 29 % Other income (expense), net $ (439) $ 65 Net income $ 16,002 $ 18,368 Diluted EPS $ 1.21 $ 1.44

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ruth Porat changed role as President and Chief Investment Officer at Alphabet Inc..

Action: assume
Role: President and Chief Investment Officer

Exact text from the filing

On July 25, 2023, Alphabet announced that Ruth Porat will assume the newly created role of President and Chief Investment Officer of Alphabet and Google LLC (“ Google ”), effective September 1, 2023.

View on SEC.gov

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Alphabet Inc. filing history →

Source: SEC EDGAR

accession 0001652044-23-000067

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