After recording a record annual revenue of USD 257 billion in 2021, Google -- parent Google -- started 2022 with Q1 revenue up 23% compared to Q1 2021.
The record is where Alphabet's first revenue to penetrate USD 200 billion in a year. Meanwhile, in Q1 2022, Alphabet's revenue reached USD 68 billion.
However, despite a 23% increase in revenue, Alphabet's net profit fell by USD 1 billion to USD 16.4 billion from USD 17.9 billion in Q1 2021. This was due to research and development costs that increased by more than USD 1 billion compared to Q1 2021, from USD 7.485 billion to USD 9.1 billion.
Revenue from search engine Google during Q1 2022 totaled USD 39 billion, up from USD 31 billion in Q1 2021. Their overall advertising business, including Search, YouTube and its various ad networks, generated USD 54 billion in revenue.
Ad revenue from YouTube also rose to USD 6.86 billion, but growth has slowed compared to the previous two years during the pandemic, as quoted by The Verge, Wednesday (27/4/2022).
"During Q1 there was strong growth in Search and the Cloud in particular, both of which are helping people and businesses continue their digital transformation. We will continue to invest in great products and services, and create opportunities for partners and local communities around the world," said Alphabet and Google CEO Sundar Pichai.
Pichai also showcased his investment in YouTube Shorts, whose daily views have reached 30 billion, four times that of 2021, and that they claim to be focused on building great user experiences.
He also revealed his plans to redesign the YouTube experience to give viewers more control and the ability to comment while watching on TV, as well as increasing support for Shorts.
Hey 👋 - download Gotrade to invest as little as $1 in any US stock on an easy to use, commission-free platform. Get $100 in free Google stock using this link: