Published , by Donovan Erskine
Published , by Donovan Erskine
Google (GOOGL) has published its Q1 2023 earnings report, detailing the corporation's financial performance over the last few months. After a tumultuous start to 2023, which included widespread layoffs and spending cuts, Google beat on both EPS and revenue expectations.
Google’s (GOOGL) Q1 2023 earnings report was published after the markets closed. In the report, we see that Google made $69.8 billion in revenue, which beats Wall Street’s expectation of $68.9 billion. Google’s diluted earnings per share were $1.17 per share, which just narrowly clears the $1.15 expectation. CEO Sundar Pichai provided a statement on Q1 inside the report.
CFO Ruth Porat also gave a statement in the latest Google earnings report.
It's also worth noting that Google significantly cut back on spending this year, going as far as to force some employees to share desks.
Google is just one of many major companies sharing financial news this week, as Microsoft and Texas Instruments have also provided quarterly earnings results. Stick with Shacknews for all your financial news.