(FILES) In this file photo taken on January 18, 2019 A logo is pictured above the entrance to the offices of Google in London on January 18, 2019. - Google parent Alphabet on Monday reported a sharp drop in profits over the past quarter as it ramped up spending for a wide array of new gadgets and services. Profit dipped 23 percent from a year ago to $7.1 billion as revenue that 20 percent to $40.5 billion for the California tech giant and internet search leader. Shares in Alphabet fell 1.1 percent in after-hours trade on the weaker-than-expected profits. (Photo by Ben STANSALL / AFP)
NewsOnline reports that Google parent company Alphabet beat market expectations in the first quarter of 2023 with a net profit of $15 billion, the company said on Tuesday, in a sign that the search engine behemoth is regaining its footing.
Its quarterly revenue came in at nearly $70 billion, a billion better than expected by analysts and in the same three month period that the company said it would lay off 12,000 staff or six percent of its workforce.
AFP
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