Google's parent Alphabet see revenue rise, income fall in Q1

By Ovunc Kutlu

ISTANBUL (AA) - Google's parent Alphabet saw its revenue increase but income decrease in the first quarter of this year, according to the company Tuesday.

The US-based global tech giant posted revenue of $69.8 billion in the January-March period of this year, up 2.6% from $68 billion from the same period of last year.

Net income, on the other hand, fell to approximately $15 billion, from $16.4 billion, during the same period for an 8.5% decline.

The company's cloud services, meanwhile, expanded over 27% to more than $7.4 billion, from $5.8 billion, during the same period.

With positive results, Alphabet saw its stock price rise more than 4% to $108.10 per share, after closing Tuesday at $103.85 a share.