Google tops expectations with $15 billion quarterly profit

Google parent company Alphabet beat market expectations in the first quarter of 2023 with a net profit of $15 billion, the company said on Tuesday, in a sign that the search engine behemoth is regaining its footing.

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Its quarterly revenue came in at nearly $70 billion, a billion better than expected by analysts and in the same three month period that the company said it would lay off 12,000 staff or six percent of its workforce.