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Google Q1 Earnings Report: Revenue $94.7 billion, Earnings per Share $5.11
The Crypto World News reports that Google’s parent company Alphabet announced its first-quarter earnings, with revenue (excluding partner revenue sharing) of $94.7 billion, surpassing analysts’ expectations of $91.6 billion. Earnings per share were $5.11, nearly double Wall Street’s forecast of $2.62. After the earnings release, the stock rose over 6% in after-hours trading. CEO Sundar Pichai stated that after integrating AI tools into search, the number of search queries hit a record high, and the cost of answering user questions with AI has been reduced. Cloud business revenue reached $20 billion, exceeding the expected $18.4 billion. Backlog orders surpassed $460 billion, nearly doubling from the previous quarter. Pichai said the company is limited by computing power in the short term and is increasing investments. Gemini Enterprise paid monthly active users grew 40% quarter-over-quarter. CFO Anat Ashkenazi said that this year’s capital expenditure budget has been raised to a maximum of $190 billion, which is twice the actual spending planned for 2025.