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Eating the alphabet6/27/2023 Google is the undisputed leader in online search providing the company with an enviable competitive moat. While ad sales were flat year over year due to lower enterprise spending, growth should accelerate once the macro environment improves. Google Cloud will also be a key driver of the company’s bottom line over time, given that Amazon’s AMZN Web Services reports an operating margin of around 30%.Īlphabet is the largest digital ad platform in the world, and its ad sales stood at $54.5 billion in the March quarter, accounting for 78% of total revenue. Moreover, Alphabet confirmed its cloud business is now profitable after the segment posted a cumulative $6 billion loss in the last two years. A significant portion of this growth was powered by Google Cloud revenue that surged 28% to $7.5 billion. In Q1 of 2023, Alphabet reported sales of $69.8 billion, an increase of 3% year over year.
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