Google parent Alphabet just announced its financial results for the first quarter with revenue up 17% year-over-year at $20.35 billion. Non-GAAP earnings per share were lower than expected at $7.50 (versus $7.96), and the stock is on the way down as a result. It quickly fell by as much as 8%.
Aggregate cost per click fell 9% year-over-year.
CFO Ruth Porat commented, "Our Q1 results represent a tremendous start to the year with 17% revenue growth year on year and 23% growth on a constant currency basis. We’re thoughtfully pursuing big bets and building exciting new technologies, in Google and our Other Bets, that position us well for long term growth."
Here are some of the other numbers:
See the full report here.