Google’s parent company Alphabet reported its Q1 revenue on Monday, scoring $31 billion in total revenue, and $9.4 billion in net income. Alphabet’s revenue this quarter was 26 percent higher than the same quarter last year.
A major boost to Alphabet’s income this quarter was due to a change in accounting rules related to equity or share holdings in other companies, such as Uber. The accounting change allowed Alphabet to realize some of its share holdings at market value, rather than the value at which it had invested in the company.
