Alphabet's Q1 earnings report reflects weak ad sales but strong gains in the category that includes Pixel devices.
reported a small decline in advertising across all Google platforms from $54.66 billion during last year's first quarter to $54.55 billion this year. That includes a decline in YouTube ads to $6.69 billion in Q1 2023 from $6.87 billion reported during Q1 2022. Google Search ad revenue rose to $40.36 billion for the three months that ended this past March. During the same quarter last year, Google Search generated $39.62 billion in ad revenue.
Pixel device sales are counted as part of the"Google other" segment which saw revenue rise to $7.41 billion from $6.81 billion last year. That is an 8.8% year-over-year increase. This year's first quarter would include sales of the Pixel 7, Pixel 7 Pro, Pixel 6a, and the Pixel Watch. Besides cutting the headcount, Alphabet CFO Ruth Porat said that the firm will be cutting real estate, employee services, and equipment for several years. The company took a $2.6 billion charge in the quarter for the layoffs and the reduction of office space. For the three months, Alphabet had $15.05 billion in net profits or $1.18 per share. That compares with the $16.44 billion that Alphabet reported in net income for the first quarter of 2022 or $1.24 per share.
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