Alphabet’s Strong Q1 Performance Highlights AI Growth
Alphabet Inc. (NASDAQ: GOOGL) reported a 22% year-over-year increase in revenue, totaling $109.9 billion for the first quarter of 2023, marking its fastest growth rate in 16 quarters. Google Cloud revenue surged 63% year-over-year, with a customer backlog of $462 billion, almost double from three months prior. In 2026, the company plans to invest between $180 billion and $190 billion in capital expenditures, up from $91 billion in 2025.
Despite significant spending on AI infrastructure, Alphabet boasts a strong market capitalization of $4.6 trillion, making it the second-most valuable company globally. Analysts project a compound annual growth rate of nearly 17% for Alphabet’s diluted earnings per share from 2025 to 2028, with a current price-to-earnings ratio of 29.6.
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