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

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.