Google made $41.2 billion in Q1 2020 with $6.8 billion in profit.

Cloud Services grew 52%, YouTube grew 33%, and other bets fell 21%.


Alfred Lee

29 Apr, 2020

Google made $41.2 billion in Q1 2020 with $6.8 billion in profit. | BEAMSTART News

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Google has made $41.2 billion in revenue for Q1 2020, parent company Alphabet reported earlier yesterday.

The company also announced that the net revenue for the quarter was $6.8 billion at $9.87 earnings per share, shy of analysts' estimates ($10.38 per share).

Google's advertising made up 82% of the company's total revenue for the quarter, while both Cloud and YouTube services grew 52% and 33% respectively.

Waymo, one of Google's "Other Bets" focuses on self driving cars.

Other Bets did worse in Q1 2020 than in Q1 2019, with revenue down 21% ($135 million) and losses amounting to $1.1 billion (29% increase).

Other Bets encompass the other companies under the Alphabet, which include Calico, CapitalG, DeepMind, GV, Google Fiber, Jigsaw, Loon, Makani, Sidewalk Labs, Verily, Waymo, Wing, and X. 

Given the current economic climate, it is a possibility that Google will begin stopping some of these side projects.

Google HQ.

Despite the growth in figures, Google has been slowing down on hiring as of late.

While analysts expect a growth on some of Google's services due to more businesses pivoting online, it is uncertain what the future brings to the company's overall performance.

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

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