The $68 billion figure represents a 23% year-over-year improvement
Every time we hear about Google facing some little struggle here or there — maybe that the Pixel 6, despite initial reports of strong sales, is facing an uphill battle with carriers — it’s important to keep in mind that even a project as big as this is just a drop in the bucket when you consider all the company’s ventures. So it shouldn’t be any shock that despite some minor setbacks, Google’s been doing incredibly well for itself, and this afternoon parent company Alphabet is announcing Q1 2022 revenues totaling $68 billion.
That’s an increase of 23% over the $55 billion brought in during Q1 2021, and while the comparative rate of growth is slowing, that’s still an impressive high-water mark.
Of its numerous ventures, Google cites Search and Cloud as a couple of the biggest drivers of growth. Search revenue has hit $39.6 billion, up 24% year-over-year, while Cloud revenue is up a staggering 43% YoY, generating $5.8 billion.
In its earnings call, Google started going into a little more detail talking about the trends behind its recent growth. CBO Philipp Schindler identified travel searches as one area Google’s seeing rebound from its pandemic hit. He also points to new features like Lens multisearch as helping contribute to Google’s Search ad income, although we’re probably not seeing any actual results from that just yet.
YouTube is obviously still huge, with its ad income responsible for some $6.8 billion in revenue. The company sounds optimistic about Shorts, specifically mentioning advertiser interest, which are now getting some 30 million daily views.
Not every effort is a money-maker (at least not initially), and market volatile helped contribute to a $1.2 billion loss for the broadly categorized “Other Bets” — despite an income boost to $440 million. Play revenues are taking a bit of a hit thanks to ongoing efforts to reshape its income streams to appease devs and content creators — that said, Google doesn’t seem too concerned.
Finally, the company took the opportunity of this earnings call to reiterate its ongoing support for the people of Ukraine in the face of Russian aggression.
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