Alphabet Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Alphabet Inc. (GOOGL) announced earnings for first quarter that decreased from last year.

The company's profit came in at $6.66 billion, or $9.50 per share. This compares with $9.40 billion, or $13.33 per share, in last year's first quarter.

Excluding items, Alphabet Inc. reported adjusted earnings of $8.84 billion or $11.90 per share for the period.

Analysts had expected the company to earn $10.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.7% to $36.34 billion from $31.15 billion last year.

Alphabet Inc. earnings at a glance:

-Analysts Estimate: $10.56 -Revenue (Q1): $36.34 Bln vs. $31.15 Bln last year.