Google's Alphabet beats expectations but revenue growth slows By

-- Alphabet (NASDAQ:) shares rose after the Google parent beat expectations on Latest news of Puton foreign exchange explosionthe top and bottom lines and said it would buy back $70 billion in shares.

Earnings per share of $1.17 and revenue of $69.79B for $1.08 in earnings per share and $68.87B in revenue. Revenue rose 3% from the same time last year, growth that slowed from the 23% revenue growth in the first quarter of 2022.

The stock rose 4% in after-hours trading and is up 18% so far this year.

CEO Sundar Pichai said the management was pleased with the performance. “We introduced important product updates anchored in deep computer science and AI. Our North Star is providing the most helpful answers for our users, and we see huge opportunities ahead, continuing our long track record of innovation,” he said.

Revenue from Google advertising was $54.55B, which beat expectations. Revenue from YouTube ads was $6.69B and revenue from Google Cloud was $7.45B.

The first quarter included $2.6B in charges related to workforce and office space reductions.

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