Friday, 24 March, 2023

Google parent Alphabet’s Q1 profits dropped by more than $1B compared to 2021

<p>In a filing, Google&#39;s parent firm claims that revenue for the first quarter of 2022 was up 23% over the same period last year, totaling $68B. However, due to higher expenses in 2021, the company&#39;s net profit fell to $16.4B, down from $17.9B the previous year. In comparison to Q1 2021, R&amp;D spending increased by approximately $1B, rising from $7.485B to $9.1B. Last year, the company made a $4.8B profit on its stock holdings, but it lost $1.07B in the first quarter of 2022.</p>