Alphabet Shares Down 4% on Q1 Earnings Miss, Revenues Roughly In Line

Alphabet (NASDAQ: GOOGL) shares were trading more than 4% lower after-hours following the company’s reported Q1 results, with earnings of $24.62 per coming in below the Street estimate of $25.96. Revenue grew 23% year-over-year to $68 billion, roughly in line with the Street estimate of $68.1 billion.

The company saw strong growth in Search and Cloud. Search revenue was up 24% and Cloud revenue was up 44%.

The company had 163,906 employees at the end of the quarter, up from 139,995 in the same period last year.

On April 20, 2022, the company’s Board of Directors authorized a repurchase of up to an additional $70 billion of its Class A and Class C shares.

Shares of GOOGL were down 18% year-to-date, before the after-hours slide.

By Davit Kirakosyan

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