Google reaches 350 million paid subscribers in Q1
In the first quarter, Google added 25 million paid subscribers, bringing the total to 350 million, as reported by Alphabet. This growth was primarily driven by YouTube and Google One services, up from 325 million in the previous quarter. Although YouTube's advertising revenue continued to grow year-over-year, it fell short of Wall Street expectations, reaching $9.88 billion instead of the anticipated $9.99 billion. Overall, Alphabet reported total revenues of $109.9 billion, with cloud services exceeding $20 billion.
Google added another 25 million paid subscribers to its services last quarter. Alphabet announced this in its first-quarter earnings report on Wednesday. Techcrunch.com reports this.
The company noted that the number of paid subscriptions across its services has reached 350 million. This figure is up from 325 million in the previous quarter, with growth primarily driven by YouTube and Google One services.
The report did not specify the exact number of Gemini subscribers or its monthly active users. However, access to Gemini's advanced features is now being offered alongside the growing Google One plans.
YouTube's advertising revenue fell below Wall Street expectations, although it continues to grow year-over-year. Analysts had expected YouTube ad revenue to be $9.99 billion, but it amounted to $9.88 billion.
Alphabet shares rose after exceeding Wall Street expectations. The company's total revenue amounted to $109.9 billion, while cloud services revenue exceeded $20 billion.
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