<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Google parent Alphabet (GOOG, GOOGL) reported its Q1 earnings on Tuesday, beating analysts’ expectations on revenue despite the ongoing coronavirus pandemic, and a slowdown in ad revenue in March.” data-reactid=”16″>Google parent Alphabet (GOOG, GOOGL) reported its Q1 earnings on Tuesday, beating analysts’ expectations on revenue despite the ongoing coronavirus pandemic, and a slowdown in ad revenue in March.

These are the most important numbers from the report, and what analysts were expecting from the company, as compiled by Bloomberg.

  • Revenue ex-TAC: $33.71 billion versus $32.6 billion expected

  • Earnings per share: $9.87 versus $10.36 expected

Alphabet’s stock was up more than 4% in after hours trading.

Unlike other tech companies like Apple, Alphabet never pulled its quarterly guidance — though there have been indications that the firm is undertaking cost-cutting measures. Following the earnings release, CFO Ruth Porat said the company has seen a slowdown in ad revenue.

“Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues,” she said. “We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="According to internal documents obtained by CNBC, Alphabet CEO Sundar Pichai is reportedly moving to reduce hiring and the company’s advertising budget as a result of the current economic climate.&nbsp;” data-reactid=”24″>According to internal documents obtained by CNBC, Alphabet CEO Sundar Pichai is reportedly moving to reduce hiring and the company’s advertising budget as a result of the current economic climate. 

FILE - In this Tuesday, May 7, 2019 file photo, Google CEO Sundar Pichai speaks during the keynote address of the Google I/O conference in Mountain View, Calif.. Google CEO Sundar Pichai said Tuesday May 14, 2019, it's opening a privacy focused engineering center in Munich, Germany, in its latest move to beef up its data protection credentials. (AP Photo/Jeff Chiu, File)FILE - In this Tuesday, May 7, 2019 file photo, Google CEO Sundar Pichai speaks during the keynote address of the Google I/O conference in Mountain View, Calif.. Google CEO Sundar Pichai said Tuesday May 14, 2019, it's opening a privacy focused engineering center in Munich, Germany, in its latest move to beef up its data protection credentials. (AP Photo/Jeff Chiu, File)
Alphabet CEO Sundar Pichai will give remarks after the company reports its Q1 earnings on Tuesday. (AP Photo/Jeff Chiu, File)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Alphabet is, first and foremost, an advertising firm, and the economic tailspin from the coronavirus has already eaten into advertising budgets across the various industries. According to the Interactive Advertising Bureau, 70% of media buyers say they are changing their advertising spending plans as a result of the coronavirus.” data-reactid=”36″>Alphabet is, first and foremost, an advertising firm, and the economic tailspin from the coronavirus has already eaten into advertising budgets across the various industries. According to the Interactive Advertising Bureau, 70% of media buyers say they are changing their advertising spending plans as a result of the coronavirus.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Google’s G Suite platform has proven to be a bright spot for the company amidst the coronavirus lockdowns. On April 9, Javier Soltero, Google’s General Manager and VP of G Suite, announced in a blog post that the company was seeing 2 million new users accessing its Meet video service everyday.” data-reactid=”37″>Google’s G Suite platform has proven to be a bright spot for the company amidst the coronavirus lockdowns. On April 9, Javier Soltero, Google’s General Manager and VP of G Suite, announced in a blog post that the company was seeing 2 million new users accessing its Meet video service everyday.

For the quarter Google reported cloud revenue of $2.8 billion that’s up from $1.8 billion in the same quarter last year.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="More from Dan:” data-reactid=”39″>More from Dan:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Got a tip? Email Daniel Howley at [email protected] or [email protected], and follow him on Twitter at&nbsp;@DanielHowley.” data-reactid=”45″>Got a tip? Email Daniel Howley at [email protected] or [email protected], and follow him on Twitter at @DanielHowley.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Follow Yahoo Finance on&nbsp;Twitter,&nbsp;Facebook,&nbsp;Instagram,&nbsp;Flipboard,&nbsp;SmartNews,&nbsp;LinkedIn,&nbsp;YouTube, and&nbsp;reddit” data-reactid=”46″>Follow Yahoo Finance on TwitterFacebookInstagramFlipboardSmartNewsLinkedIn, YouTube, and reddit