Alphabet (GOOG) Misses Q1 EPS by 46c, Revenue Beats, Sees Ad Rev. Slowdown in March

(Updated - April 28, 2020 4:05 PM EDT)

Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) reported Q1 EPS of $9.87, $0.46 worse than the analyst estimate of $10.33. Revenue for the quarter came in at $41.16 billion versus the consensus estimate of $40.38 billion.

“Given the depth of the challenges so many are facing, it’s a huge privilege to be able to help at this time,” said Sundar Pichai, Chief Executive Officer of Alphabet and Google. “People are relying on Google’s services more than ever and we’ve marshalled our resources and product development in this urgent moment.”

“Our business, led by Search, YouTube, and Cloud, drove Alphabet revenues to $41.2 billion, up 13% versus last year, or 15% on a constant currency basis,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues. We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.”

For earnings history and earnings-related data on Alphabet (GOOG) click here.

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