Alphabet Inc. (NASDAQ: GOOG, GOOGL) today reported first quarter financial results for the period ended March 31, 2020.
On GAAP basis, first quarter EPS was $9.80 vs. $9.50 in the first quarter of 2019. Non-GAAP EPS was $9.87, compared to $11.90 in the first quarter of 2019.
Total revenues increased 13% to $41.15 billion.
Amid COVID19 pandemic, Google advertising revenue increased 10% year-over-year to $33.76 billion.
Shares up over 3% during the after-hours following the earnings announcement.
Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues. We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.
Ruth Porat, CFOUnited States revenues (GAAP) were down 13% sequentially and up 14% year-over-year.
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