It’s another quarter of earnings results and Google (GOOGL) is next on the block today. Parent company Alphabet reported on its recent quarter and while there was plenty to be happy about, it barely missed on a couple of important metrics. When it came down to the wire for Google’s Q1 2022 fiscal quarter, the company came up short on both revenue and earnings-per-share (EPS) against Wall Street’s projected numbers.
Google reported its Q1 2022 earnings results on April 26, 2022, alongside a conference call coming up alongside its recent reports. In terms of total revenue, Google was expected to fetch around $68.10 billion USD in Q1 2022 from expectations on Wall Street. It instead fell short at $68.01 billion. Likewise, Wall Street projected a Q1 2022 EPS finish of $25.70 per share. However, Google was only able to land at $24.62 per share, falling just shy of expectations yet again.
Nonetheless, it could hardly be considered a bad quarter for Google. The company was able to report a 23 percent increase year-over-year in revenue, even if it fell just shy of Wall Street numbers. Among those numbers, YouTube by its lonesome was able to pull in a revenue of around $6.87 billion, around 10 percent of Google’s quarterly revenue on its own. Google’s search engine and other revenue also came to about $39.6 billion, which ended up being a vast year-over-year gain over the same category’s $31.9 billion by the end of its fiscal Q1 2021. It didn't keep the GOOGL stock from taking a hit in after-hours trading though, as reported by Yahoo Finance.
Google is hardly hurting for cash, continuing to grow despite its failure to meet expectations this quarter. With its search engine and other ventures like YouTube putting up increases year-over-year for the most part, the company is likely nowhere near trouble in the immediate future. Be sure to stay tuned for our further financial reporting as updates and details become available here at Shacknews.
TJ Denzer posted a new article, Google (GOOGL) Q1 2022 earnings release misses revenue and EPS expectations
Down 5% after hours. Not too bad given the state of the rest of tech