Google parent Alphabet’s Q1 profits dropped by more than $1 billion compared to 2021
After a record-breaking 2021 with annual revenue of $257 billion — the first time it has gone over $200 billion for a year — Google’s parent company reports in a filing (pdf) that it has started off 2022 with Q1 revenue that’s up 23 percent from the same period last year, reaching $68 billion.
However, with expenses up compared to 2021, its net profit actually dropped to $16.4 billion compared to last year’s $17.9 billion.
In an accompanying statement, Google and Alphabet CEO Sundar Pichai said “Q1 saw strong growth in Search and Cloud, in particular, which are both helping people and businesses as the digital transformation continues. We’ll keep investing in great products and services, and creating opportunities for partners and local...