Issue link: https://maltatoday.uberflip.com/i/1498067
Name Current Change %Change Open High Low Prev. Value Close US MARKETS DOW JONES 33,852.53 3.07 0.01 33847.80 33933.91 33662.45 33849.46 NASDAQ 10,983.78 -65.72 -0.59 11060.02 11086.02 10944.37 11049.50 EUROPEAN MARKETS FTSE 7,584.03 72.03 0.96 7512.00 7584.53 7512.00 7512.00 CAC 6,722.47 53.50 0.80 6706.67 6734.86 6678.75 6668.97 DAX 14,392.64 37.19 0.26 14429.22 14487.70 14363.32 14355.45 ASIAN MARKETS SGX Nifty 18,894.00 -22.50 -0.12 18916.50 18926.50 18892.00 18916.50 NIKKEI 225 27,968.99 -58.85 -0.21 27886.67 27972.89 27802.71 28027.84 STRAITS TIMES 3,290.49 14.13 0.43 3279.86 3290.56 3270.03 3276.36 HANG SENG 18,597.23 392.55 2.16 18141.56 18645.35 18052.32 18204.68 TAIWAN WEIGHTED 14,879.55 169.91 1.16 14678.23 14879.55 14678.23 14709.64 KOSPI 2,472.53 39.14 1.61 2424.44 2472.53 2421.42 2433.39 SET COMPOSITE 1,635.36 10.97 0.68 1626.14 1636.08 1622.24 1624.39 JAKARTA COMPOSITE 7,081.31 69.24 0.99 7012.11 7081.31 6993.70 7012.07 SHANGHAI COMPOSITE 3,151.34 1.59 0.05 3141.40 3158.57 3137.37 3149.75 27.4.2023 7 MARKETS International Markets Global Indices Trading Date: 26 Apr 2023 Alphabet's Q1 results highlight its strength in search and the cloud ONLINE search and advertising giant Alphabet's (NAS- DAQ: GOOG) (NASDAQ: GOOGL) first-quarter results are out. ough the Google parent's results beat analysts' consensus forecast for both revenue and earnings per share, a close look at the report reveals that growth came from two areas -- and one of those areas is growing ex- ceptionally fast. ose areas were Alphabet's core Goog- le search segment and its fast-growing cloud computing business. Alphabet announced that its first-quarter revenue came in at $69.8 billion, up 3% year over year and significantly ahead of analysts' average forecast for revenue of $68.9 bil- lion. On a constant-currency basis, revenue rose 6% year over year, so the company's underlying business momen- tum may be understated due to recent fluctuation in for- eign exchange. As Alphabet Chief Financial Officer Ruth Porat noted in the company's first-quarter earnings release, the quarter's revenue growth was driven by strength in search and cloud computing. Alphabet's revenue from a segment called "Google Search & Other" rose 2% year over year to $40.4 billion. Revenue in the company's Google Cloud business increased from $5.8 billion in the year-ago quarter to $7.5 billion. Google Cloud was easily Alphabet's fastest-growing segment during the quarter. Porat also said the company is "re-engineering [its] cost base" -- a move that will likely help bolster profitability throughout the year. Earnings per share were $1.17, down from $1.23 in the year-ago period but ahead of analysts' average forecast for $1.07. While Alphabet's profits were down, the company's quarterly net income of more than $15 billion is still signif- icant -- particularly in relation to the stock's conservative valuation, captured by its price-to-earnings ratio of just 23. Areas of weakness ere were some areas of Alphabet's business, however, that weren't so hot. YouTube advertising revenue, for exam- ple, fell 3% year over year. Importantly, however, this was an improvement from the 8% year-over-year decline in You- Tube ad revenue that Alphabet saw in the fourth quarter of 2022. So you could argue that the quarter's YouTube ad revenue was encouraging, compared to recent trends. Revenue also fell in the company's Google network seg- ment, which includes advertising revenue from ads placed across its network partners' websites and apps. is reve- nue fell 3% year over year. Sales from the tech company's more speculative busi- nesses and ventures, which are lumped into a segment called "other bets," plummeted, falling from $440 million in the year-ago quarter to $288 million. But the segment accounts for less than half of a percentage point of total rev- enue. However, the segment's operating loss of $1.2 billion weighed meaningfully on Alphabet's total income from op- erations of $17.4 billion.