Alphabet reports $24.75 billion in Q1 revenues, beating expectations

Ad revenues rose 19 percent year over year.

Google parent Alphabet Inc. announced revenues of $24.75 billion for the first quarter of this year, a 22 percent increase year over year. That’s above analyst expectations, and the stock is up in after-hours trading.

Ad revenues were $21.4 billion, a 19 percent increase over Q1 2015. Google site revenues were $17.4 billion (up 21 percent), and network revenues were $4 billion (up 9 percent).

Paid clicks were up on Google sites and network properties, 53 percent and 10 percent respectively. The trend of lower YoY CPCs continued, with Google site CPCs down 21 percent and network CPCs off 17 percent.

Alphabet made some changes to the way it reports paid clicks and CPCs this quarter: “In the first quarter of 2017, we refined our methodology for paid clicks and cost-per-click to include additional categories of TrueView engagement ads and exclude non-engagement based trial ad formats. This change resulted in a modest increase in paid clicks and a modest decrease in cost-per-click.”

The following table reflects the updated methodology:

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