Alphabet 2023 Q1 Earnings Call - YouTube
发布时间 2023-04-24 16:00:00 来源
Welcome everyone. Thank you for standing by for the Elphabet first quarter 2023 earnings conference call. At this time all participants are in a listen only mode. After the speaker presentation there will be a question and answer session. To ask a question during this session you will need to press star one on your telephone.
I would now like to hand the conference over to your speaker today Jim Friedland, director of investor relations. Please go ahead. Thank you.
大家好，欢迎参加Elphabet公司的2023年第一季度收益电话会议。目前，所有参与人员都处于听取模式。在发言结束后，我们将进行问答环节。如果您想在此环节中提问，请按下您电话上的星号键。
现在，我想把这个会议交给我们的发言人吉姆·弗里德兰，他是投资者关系总监。请发言。谢谢。
Good afternoon everyone and welcome to Elphabet's first quarter 2023 earnings conference call. With us today are Sundar Pachai, Philip Schindler and Ruth Perrat.
Now I'll quickly cover the safe harbor. Some of the statements that we make today regarding our business, operations and financial performance may be considered forward looking, and such statements involve a number of risks and uncertainties that could cause actual results to differ materially. For more information please refer to the risk factors discussed in our most recent form 10K filed with the SEC. During this call we will present both GAP and non-GAP financial measures. A reconciliation of non-GAP to GAP measures is included in today's earnings press release which is distributed and available to the public through our investor relations website located at ABC.XYZ forward slash investor. Our comments will be on year over year comparisons unless we state otherwise and now I'll turn the call over to Sundar.
大家下午好，欢迎参加Elphabet的2023财年第一季度收益电话会议。今天与我们一起的是Sundar Pachai、Philip Schindler和Ruth Perrat。现在我就快速介绍一下安全港。今天我们所提到的关于我们业务、运营和财务表现的一些声明可能被视为前瞻性的，这些声明涉及到许多风险和不确定性，可能会导致实际结果与期望有所不同。更多信息请参阅我们最近提交给SEC的10K表中讨论的风险因素。在本次通话中，我们将呈现GAP和非GAP财务指标。非GAP财务指标和GAP财务指标的调和已经包含在今天的收益新闻发布中，并可通过我们的投资者关系网站ABC.XYZ/investor向公众提供。除非我们另有说明，否则我们的评论将是年同比对比。现在我将把电话交给Sundar。
Thank you Jim and good afternoon everyone. I'm pleased with our business performance in the first quarter with search performing well and momentum in cloud. We introduced important product updates anchored in deep computer science and AI. Our not-star is providing the most helpful answers for our users and we see huge opportunities ahead, continuing our long track record of innovation. On cloud we continue to be on a long and exciting journey to build that business. Cloud delivered profitability this quarter and we remain focused on long term value creation here.
大家下午好，感谢Jim和大家。我很高兴我们在第一季度的业务表现，搜索表现良好，云方面的势头也不错。我们引入了深度计算机科学和人工智能的重要产品更新。我们的明星产品“提供最有帮助的答案”为用户带来了越来越多的机会，延续了我们长期以来的创新成果。在云方面，我们继续走着漫长而令人兴奋的旅程来建立这个业务。本季度云业务实现了盈利，我们仍然专注于长期价值的创造。
Today I'll give an update on the two themes I spoke about last quarter. One are advancements in the AI and how they are driving opportunities in search and beyond. And two are efforts to sharpen our focus as a company. Then I'll talk about our momentum in cloud and close with our progress at YouTube.
今天我将更新上季度我讲到的两个主题。第一个主题是人工智能的进步，以及它们如何推动搜索和其他领域的机遇。第二个主题是我们公司为了提高专注力而做出的努力。然后我将谈谈我们在云端的势头，并总结我们在YouTube上的进展。
First the incredible AI opportunity for consumers or partners and for our business. I've compared it to the successful transition we made from desktop to mobile computing over a decade ago. Our investments and breakthroughs in AI over the last decade have positioned us well in our last call I outlined three areas of opportunity. Continuing to develop state of the art large language models and make significant improvements across our products to be more helpful to our users. Empowering developers creators and partners with our tools. And enabling organizations of all sizes to utilize and benefit from our AI advances. We have made good progress across all three areas.
首先，AI为消费者或合作伙伴以及我们的业务带来了令人难以置信的机遇。我将其比喻为十多年前从台式机过渡到移动计算的成功转变。过去十年中我们对AI的投资和突破让我们处于一个良好的位置，在我们最后的电话会议中，我概述了三个机会领域。一是持续开发最先进的语言模型，并在我们的产品中取得显著改进，以更有效地帮助用户。二是通过我们的工具赋能开发者、创作者和合作伙伴。三是使各种规模的组织能够利用和受益于我们的AI进步。我们在所有三个领域都取得了良好的进展。
In March we introduced our experimental conversational AI service called BOR. We have since added our palm model to make it even more powerful and BORD can now help people with programming and software development tasks including core generation lots more to come. For developers we have released our Palm API alongside our new maker suite tool. It provides a simple way to access our large language models and begin building new generative AI applications quickly. A number of organizations are using our generative AI large language models across Google Cloud platform, Google workspace and our cyber security offerings.
在三月份，我们推出了实验性的对话式人工智能服务BOR。随后，我们加入了手掌模型，使它变得更加强大，现在BORD可以帮助人们完成编程和软件开发任务，包括核心生成等等。对于开发人员，我们推出了手掌API与我们的新制造套件工具一起发布。它提供了一种简单的方式来访问我们的大型语言模型，并开始快速构建新的生成AI应用程序。许多组织正在使用我们的生成AI大型语言模型，跨越了Google Cloud平台、Google workspace和我们的网络安全产品。
For years we have been focused on making search even more helpful from Google lens to multi-searched to visual exploration and search immersive view and maps, Google translate to all the language models powering search today. We have used AI to open up access to knowledge in powerful ways. We will continue to incorporate generative AI advances to make search better in a thoughtful and deliberate way. We will be guided by data and years of experience about what people want and our high standards for quality. And we will test and iterate as we go because we know that billions of people trust Google to provide the right information.
多年来，我们一直专注于使搜索功能更加有用，包括从Google镜头到多重搜索、视觉探索和搜索沉浸式视图和地图等方面。我们利用人工智能强大的知识访问能力来打开知识的门户。我们将继续采用生成式人工智能技术来以周到、审慎的方式使搜索更好。我们将以数据和多年经验为指导，了解人们想要什么，并保持高水平的质量标准。我们将在测试和迭代中不断尝试，因为我们知道亿万人信任Google提供正确的信息。
As it evolves we will unlock entirely new experiences in search and beyond just as camera voice and translation technologies have all opened entirely new categories of queries and exploration. AI has also been foundational to our ads business for over a decade. Products like Performance Max use the full power of Google's AI to help advertisers find untapped and incremental conversion opportunities. And as we continue to bring AI to our products our AI principles and the highest standards of information integrity remain at the core of all our work.
随着人工智能的不断发展，我们将解锁全新的搜索体验，以及超越相机、语音和翻译技术所开拓的全新查询和探索领域。在过去十年中，人工智能对我们的广告业务也产生了基础性的影响。像是“性能极致”这样的产品，利用谷歌强大的人工智能功能，帮助广告主找到未开发的和新增潜力转化的机会。随着我们继续将人工智能应用到我们的产品中，我们的AI原则和最高标准的信息完整性仍将成为我们工作的核心。
As one example our perspective API helps to identify and reduce the amount of toxic text that language models train on with significant benefits for information quality. We are trying to help ensure the safety of generative AI applications before they are released to the public. We are proud to have world-class research teams who have been advancing the breakthroughs underpinning this new era of AI. Last week I announced that we are bringing together the brain team in Google research and deep mine into one unit. Combining all this talent into one focus team backed by the pool computational resources of Google will help accelerate our progress and develop the most capable AI systems safely and responsibly.
作为一个例子，我们的观点API有助于确定和减少语言模型所训练的有害文本数量，从而显着提高信息的质量。我们正在努力确保生成式AI应用在发布到公众之前是安全的。我们自豪地拥有世界一流的研究团队，他们一直在推动支撑这个新时代的AI的突破。上周我宣布，我们将把Google研究中的大脑团队和DeepMind合并成一个单元。将所有这些人才结合成一个专注的团队，支持Google池计算资源，将有助于加速我们的进展，以安全、负责任的方式开发最具能力的AI系统。
On to my second team the company shop and focus. I spoke last quarter about our commitment to invest responsibly and with discipline and to find areas where we can operate more cost-effectively and with greater velocity. We have significant multi-year efforts underway to create savings such as improving machine utilization and finding more scalable and efficient ways to train and serve machine learning models. We are making our data centers more efficient, redistributing workloads and equipment where servers are being fully used. This is important work as we continue to significantly invest in infrastructure to drive our many AI opportunities. Improving external procurement is another area where data such as significant savings and this work is underway. And we are taking concrete steps to manage our real estate portfolio to ensure it meets our current and future needs. We'll continue to use data to determine additional areas for durable savings.
在我加入的第二个团队——公司商店和重点团队中，我们将继续致力于负责任和有纪律地进行投资，并找到我们可以更加节约成本、更具速度和可扩展性的经营领域。我们正在采取重大的、多年计划，以实现节省成本，例如提高机器利用率，并寻找更具可扩展性和高效的方法来培训和服务机器学习模型。我们正在使我们的数据中心更加高效，重新分配工作负载和设备，在服务器被充分使用的区域进行调整。这项工作非常重要，因为我们将继续大量投资基础设施，以推动我们众多的人工智能机会。改善外部采购是另一个可以节约大量成本的领域，我们正在着手开展这项工作。我们正在采取具体措施来管理我们的房地产组合，以确保它满足我们当前和未来的需求。我们将继续使用数据来确定额外的可持续节省领域。
Next Google Cloud and please do the ongoing momentum in cloud. Our discipline expansion of our product road map and go-to-market organization has helped to build one of the largest enterprise software companies in the world. We have consistently grown top line revenues and improved annual operating margins and we continue to do so this quarter. Our growth has come from our deep relationships with large enterprises, a strong partner ecosystem under our product leadership.
请继续推进云计算业务，使谷歌云保持持续增长的势头。通过扩大产品路线图和市场组织的不断提升，我们已成为世界上最大的企业软件公司之一。我们一直在增长销售收入，并提高年度运营利润率，这个季度我们仍在继续这样做。我们的增长源于与大型企业的紧密关系，以及在产品领导下拥有强大的合作伙伴生态系统。
Over the past three years, GCP's annual deal volume has grown nearly 500 percent, with large deals over 250 million growing more than 300 percent. Nearly 60 percent of the world's 1000 largest companies are Google Cloud customers and many leading startups and millions of small and medium enterprises use Google Cloud. We have also built a strong partner ecosystem. Over the last four years, the number of Google Cloud partners certified practitioners around the world has increased more than 15 times. The largest global system integrators have built 13 dedicated practices with Google Cloud compared to zero when we started. And today more than 100,000 companies are part of our Google Cloud partner advantage program.
过去三年，GCP的交易量增长了近500％，超过2.5亿美元的大额交易增长了300％以上。全球1000家最大的公司中有近60％是Google Cloud的客户，许多领先的初创企业和数百万的中小型企业正在使用Google Cloud。我们还建立了一个强大的合作伙伴生态系统。在过去的四年中，全球范围内的Google Cloud合作伙伴认证从业人员数量增加了15倍以上。最大的全球系统集成商建立了13个专门与Google Cloud合作的实践项目，而我们开始时则是零。今天，超过100,000家公司是我们Google Cloud合作伙伴优势计划的一部分。
Our growth is also driven by our product leadership. We are bringing our generative AI advances to our cloud customers across our cloud portfolio. Our palm generative AI models and vertex AI platform are helping behave ox to identify inside a threats. Ox body cut to test its autonomous vehicles and light tricks to quickly develop text image features. In workspace, our new generative AI features are making content creation and collaboration even easier for customers like standard industries and left. This builds on our popular AI part workspace tools smart canvas and translation hub used by more than 9 million paying customers.
我们的增长也受到产品领导力的推动。我们正在将我们的生成式人工智能进步应用于我们的云端产品组合，为云客户带来更多的价值。我们的掌纹生成式人工智能模型和 Vertex AI 平台正在帮助 Ox（一家公司）识别内部威胁，Ox 也在利用这些模型来测试其自主驾驶车辆，轻松开发图像特征等等。在 Workspace（一个产品）中，我们的新生成式人工智能功能让像 Standard Industries 和 Left 这样的客户更轻松地创建和协作内容。这是基于我们颇受欢迎的 AI 部分 Workspace 工具，如智能画布和翻译中心，目前已有超过 9 百万付费客户在使用。
Our product leadership also extends to data and altix which provides customers the ability to consolidate their data and understand it better using AI. New advances in our data cloud enable altabuty to scale new digital and omnichannel experiences while focusing on customer loyalty. Shopify to bring better search results and personalization using AI and Mercedes Benz to bring new products to market more quickly. We have introduced generative AI to identify and prioritize cyber threats, automate security workflows and response and help scale cybersecurity teams. Our cloud cybersecurity products help protect over 30,000 companies including innovative brands like Broadcom and Europe's telepaths.
我们的产品领先地位还包括数据和Altix，为客户提供了整合数据并应用人工智能更好地了解它的能力。我们数据云的新进展使得Altitude可以扩展新的数字和全渠道体验，同时专注于客户忠诚度。我们与Shopify合作，利用人工智能提供更好的搜索结果和个性化服务，与梅赛德斯·奔驰合作，使新产品更快地进入市场。我们引入生成式人工智能来识别和优先处理网络安全威胁，自动化安全工作流程和响应，并帮助扩展网络安全团队。我们的云安全产品帮助保护了超过30,000家公司，包括创新品牌如Broadcom和欧洲的Telepaths。
We are successfully integrating mandate with our products including mandate and threat intelligence and breach analytics. Our open approach to AI development coupled with our industry leading TPUs and best in class GPUs from Nvidia enable innovative companies to tackle any AI workload with speed and flexibility. AI 21 labs, replete mid-journey and many others build and train foundation models and generative AI platforms. We are the only cloud provider to announce availability of Nvidia's new L4 Tensor Core GPU with the launch of our G2 VMs which are purpose-built for large inference AI workloads such as generative AI.
我们已成功将授权与我们的产品集成，包括授权和威胁情报以及数据泄漏分析。我们开放的AI开发方法结合我们行业领先的TPUs和Nvidia的最佳GPU，使创新公司可以以速度和灵活性处理任何AI工作负载。AI 21实验室，中途充满和许多其他公司构建和训练基础模型和生成AI平台。我们是唯一一个宣布通过推出G2 VMs来支持大规模推理AI工作负载，例如生成AI，并提供Nvidia的新L4 Tensor Core GPU的云提供商。
Turning next to YouTube, let me start by thanking Susan Wajiski for her terrific leadership of YouTube for nine years. She recently transitioned into an advisory role with alphabet discordr with Neil Mohan, a long-time leader at Google and YouTube becoming the new head of YouTube.
接下来说说YouTube，首先我要感谢Susan Wajiski在过去九年中出色的领导。她最近转入阿尔法离职，与Google和YouTube的长期领导人Neil Mohan一起成为新的YouTube负责人。
Here are a few highlights from the quarter. YouTube Shots continues to see strong momentum with creators. Last year, the number of channels that uploaded to Shots daily grew over 80%. Those posting weekly on Shots saw the majority of new channel subscribers coming from their Shots posts. The living room remained our fastest growing screen in 2022 in terms of watch time and we are seeing growth and momentum internationally.
以下是本季度的几个亮点。YouTube Shots 平台在创作者中继续保持强劲的势头。去年，每天上传 Shots 的频道数量增长了超过 80%。那些每周上传 Shots 的频道看到了大部分新订阅者来自于他们的 Shots 发布。在观看时长方面，客厅是我们在 2022 年发展最快的屏幕，我们在国际市场也看到增长和势头。
On our subscription business, we rolled out several new updates to YouTube Premium. Premium subscribers can now queue videos on phones and tablets, stream continuously while switching between devices, and auto download recommended videos for offline viewing. And we have great momentum around YouTube TV and YouTube Prime Time channels. We have announced pricing for the NFL Sunday ticket offering which will help to drive subscriptions, bring new viewers to YouTube's paid and ad supported experiences, and create new opportunities for creators.
在我们的订阅业务中，我们为YouTube Premium推出了几个新的更新。高级订阅用户现在可以在手机和平板电脑上排队观看视频，切换设备时可以连续流式传输，并自动下载推荐视频以便离线观看。此外，我们在YouTube电视和YouTube Prime Time频道方面具有强大的势头。我们已经公布了NFL Sunday Ticket的定价，这将有助于推动订阅，为YouTube的付费和广告支持体验带来新观众，并为创作者创造新机会。
To close across the company, we are excited about helping people, businesses and society reach their full potential with AI. We'll share updates at Google IOW about how we are using AI across our products, including our pixel devices, and share some exciting new developments for Android. Thanks to our employees around the world who continue to work hard to advance our mission. After nearly 25 years, the work to organize the world's information and make it accessible and useful is as urgent as ever and I look forward to the work ahead.
我们非常兴奋地致力于帮助人们、企业和社会通过人工智能实现其全部潜力，并在Google IOW上分享我们如何在产品中使用人工智能的更新，包括我们的Pixel设备，并分享一些令人兴奋的Android新发展。感谢全球员工继续努力推进我们的使命。在近25年的时间里，组织全球信息并使其可访问和有用的工作仍然像以往一样紧迫，我期待着未来的工作。
Over to you, Philip. Thanks, Ondar, and hey everyone. It's great to be here today. I'll kick off with Google services performance in the first quarter, then provide color into our key opportunity areas, and then turn it over to Ruth for more and our financial performance.
现在轮到菲利普发言了。谢谢，昂达。大家好，很高兴今天能在这里。我将首先介绍谷歌在第一季度的服务表现，接着谈论我们的主要机遇领域，并将讲话转交给鲁思，她将更详细地介绍我们的财务表现。
Google services revenue of 62 billion were up 1% year and year, including the effect of a modest foreign exchange headwind. In Google advertising search and other, revenue screwed 2% year-to-year, reflecting an increase in the travel and retail verticals, offset partially by decline in finance as well as in media and entertainment. In YouTube ads, we saw signs of stabilization and performance while in network, there was an incremental pullback and advertisers spend. Google other revenues were up 9% year-to-year, led by strong growth in YouTube subscriptions revenues.
谷歌服务收入为620亿美元，同比增长1%， 包括适度的外汇汇率影响。在谷歌搜索与其他广告业务方面，收入同比增长2%，反映出旅游和零售业的增长，部分抵消了金融以及媒体和娱乐业的下降。在YouTube广告中，我们看到了稳定和业绩的迹象，而在网络方面，广告商的支出略有回升。谷歌的其他收入同比增长9%，由YouTube订阅收入的强劲增长带动。
Now let's double click into the three areas I laid out last quarter, where we see clear opportunities for long-term growth and advertising. Number 1, Google AI. Number 2, retail, which cuts across all of our ads products and services. And number 3, YouTube.
现在让我们进一步探讨上个季度我提出的三个领域，这些领域都有长期增长和广告机会。第一，Google人工智能。第二，零售业，涉及我们所有的广告产品和服务。第三，YouTube。
First, Google AI. I've said before, AI has long been an important driver of our business. Advancements are powering our ability to help businesses speak and small, respond in real time to rapidly changing market and consumer shifts and deliver measurable ROI when it's needed most. In Q1, we continue to innovate across our products.
首先，谈到了谷歌人工智能（AI）。我之前已经提过，AI一直是我们业务的重要驱动力。不断的进步使我们能够帮助企业在市场和消费者需求迅速变化时实时作出反应，同时在必要时提供可衡量的投资回报率。在第一季度，我们继续在产品方面进行创新。
Take core search, for example. In targeting, we updated search keyword relevance using the latest natural language AI from mom models to improve the relevance and performance of shown ads when there are multiple overlapping keywords eligible for an auction. In bidding, we improved our smart bidding models to bid more accurately based on differences in search ad formats. In other words, bid more effectively depending on how a user wants to engage with an ad. In creatives, we opened our automatically created assets beta to all advertisers in English. ACA generates text assets alongside your responsive search ads and uses AI to help reduce the amount of manual work to keep creative fresh and relevant to user's query, context, and to the advertiser's business.
例如说核心搜索。在针对目标受众方面，我们使用来自母公司的最新自然语言AI技术，更新了搜索关键字的相关度，从而在有多个重叠的关键字符合竞拍条件时，提高广告的相关度和性能。在竞价方面，我们改进了我们的智能竞价模型，根据搜索广告格式的不同进行更精准的出价。换句话说，根据用户想要与广告互动的方式来更有效地出价。在创意方面，我们向所有使用英语的广告主开放了自动创建资产的测试版。自适应性搜索广告将生成文本资产，并利用人工智能帮助降低手动工作量，以使创意保持与用户的查询、上下文和广告主业务相关的新鲜感。
To then unlock core search further and maximize conversions across all of Google, we're actively helping more advertisers pair it together with performance max. Advertises we use pmax are on average, achieving over 18% more conversions at a similar CPA. This is up five points in just 14 months thanks to advances in the AI underlying bidding, creatives, search query matching, and new formats like YouTube shorts. I mentioned earlier that travel was a contributor to growth. In March, we launched pmax for travel goals. Now, even the smallest totalities can benefit from the expanded reach of hotel ads and pmax. Like family run, Croatia Hotels Group, who drove a 32% increase in revenue and a 26% increase in total direct bookings within just one month of using pmax for travel goals. There's more to come here as we had even more AI pod features. Stay tuned for more at Google Marketing Live in May.
为了进一步解锁核心搜索并最大化谷歌的转换，我们积极帮助更多广告主将其与性能最大化配对。使用pmax的广告主平均实现了超过18%的转换率，且相近的每次获得的费用更少。这得益于竞价、素材、搜索查询匹配以及YouTube短视频等新格式在智能招标方面的先进技术。我之前提到旅游是增长的贡献者。三月份，我们为旅游目标推出了pmax。现在，即使是最小的旅游公司也可以受益于酒店广告和pmax的扩展。比如家庭式经营的克罗地亚酒店集团，他们在使用pmax为旅游目标的一个月内，实现了32%的收入增长和26%的总直接预订增长。此外，我们还将推出更多的AI特性。敬请关注5月的谷歌营销直播活动。
Moving on to retail, where we had a solid quarter. Our focus is on three pillars. Number one, making Google a core part of shopping journeys for consumers and a valuable place for merchants to connect with users. Number two, empowering more merchants to participate in our free listings and ads experiences. And number three, driving retail performance further with great ads products.
转向零售市场，我们在这个季度表现良好。我们的重点在于三个支柱。第一，将Google作为消费者购物旅程的核心部分，以及商家与用户连接的宝贵场所。第二，赋予更多商家参与我们的免费列表和广告体验的能力。第三，通过出色的广告产品进一步推动零售业绩。
In a macro environment of do more with less tools and solutions are proving that we can deliver value for retailers online and omni channel and drive high value customers, even in challenging times. Caraway, a direct to consumer maker of cookware, used target row as to uncap budgets and pmax to optimize and deploy spend across Google inventory for its q4 Black Friday campaign. Pmax drove a 46% increase in revenue and 31% jump in row as leading to car ways best business day in history and the robust reinvestment in its AI first strategy for q1. For omni focused retailers, we recently rolled out store sales reporting and bidding and performance max for store goals. This is helping retailers go beyond just optimizing to online conversions to also optimize to their stores reaching and bidding for high value customers were more likely to spend in store. Danish department store magazine recently used our store sale solution to boost its omni channel row as 128% versus online only campaigns. Thanks to dynamic in store values coming from its first party data, including its high value customers, magazine can now with confidence measure the full impact of its online investments on both e-commerce and physical store revenue.
在一个做更多的宏观环境下，使用更少的工具与解决方案正在证明我们可以为零售商在线上和全渠道提供价值，并吸引高价值客户，即使在艰难时期也是如此。面对 2020 年黑色星期五购物季，直销厨具制造商 Caraway 利用了 Pmax 工具来优化和配置谷歌库存，以实现目标行和封顶预算。Pmax 实现了 46% 的收入增长和 31% 的目标行增长，促使 Caraway 取得了历史上最好的营业日，并大力投资其 AI 为先的战略。针对全渠道零售商，我们最近推出了店铺销售报告和投标以及店铺目标性能最大化。这有助于零售商不仅仅优化在线转化，而且还在寻找并竞标那些更有可能在店铺消费的高价值客户。丹麦百货杂志最近利用我们的店铺销售解决方案，相比仅针对在线销售的广告，将其全渠道目标行增长提高了 128%。由于其第一方数据提供了动态的店内价值，包括其高价值客户，该杂志现在可以自信地衡量其在线投资对电子商务和实体店铺营收产生的全面影响。
Turning to YouTube creators fuel YouTube success across long firm and shorts music and podcasts vertical and horizontal YouTube is where creators are incentivized to make the best work. Which means the best content more viewers and more opportunities for advertisers. As I said last quarter our creator ecosystem and multi format strategy will be key drivers of YouTube's long term growth and to support this growth we're focused on number one shorts number two engagement on ctv number three investing in our subscription offerings and number four longer term effort to make YouTube more shoppable first shorts.
转向YouTube创作者，为YouTube在长期形式、音乐和播客垂直和水平方面的成功提供支持，YouTube是鼓励创作者制作最好作品的地方。这意味着最好的内容将获得更多的观众和广告商的更多机会。正如我上季度所说，我们的创作者生态系统和多格式策略将是YouTube长期增长的关键驱动因素。为了支持这种增长，我们重点关注以下四个方面：第一，shorts；第二，电视上的参与度；第三，投资我们的订阅服务；第四，在较长的时间内努力让YouTube更具购买能力。
We're seeing strong watch time growth monetization is also progressing nicely people are engaging and converting on ads across shorts at increasing rates. Number two connected to be asunder said we're seeing momentum globally viewers love watching YouTube creators and the favorite content on the large screen advertisers are leaning in. Zooming out more broadly for a second across YouTube we're helping brands benefit from our expensive reach and drive the profitability they're looking for. In one of our largest marketing mix modeling studies to date YouTube R.I. is 40% higher than linear TV and 34% higher than all other online video according to a custom analysis from January 2020 to March 2022 of Nielsen Compos R.I. benchmarks across 16 countries and 19 billion of total media spend measured. This proves YouTube's ability to drive effectiveness at scale.
我们正在看到观看时长增长强劲，盈利也正在良好进展，人们正在逐渐加强广告的参与和转化率。第二个与此相关的消息是，我们正在全球范围内看到强劲势头，观众喜欢在大屏幕上观看YouTube创作者和他们最喜爱的内容，广告商也在积极参与。总体来说，我们正在帮助品牌受益于我们广泛的影响力，并实现他们所寻求的盈利能力。根据2020年1月至2022年3月涵盖16个国家和190亿总媒体支出的Nielsen Compos R.I.基准的一项自定义分析，我们在我们至今最大规模的营销组合模型研究中获得的YouTube R.I.比线性电视高40%，比其他所有在线视频高34%。这证明了YouTube在规模上引领效果的能力。
Next up our subscription offerings. The goal is to be one stop shop for multiple types of video content across both ad supported and premium services. Our launch of multi view on YouTube TV and our first of its kind all our card access for NFL Sunday ticket are two examples of how we're investing here expect more updates over the coming quarters. Number four shopping on YouTube it's still super early days one highlight last year we brought shopping to more creators and brands by partnering with commerce platforms like Shopify. Now more than 100,000 creators artists and brands have connected their own stores to the YouTube channels to sell their products. We're excited about the potential ahead.
接下来是我们的订阅服务。我们的目标是成为各种视频内容的一站式服务商，包括广告支持和高级服务。我们在YouTube TV上推出了多视图和首个全能卡NFL Sunday Ticket，这是我们在这里的投资之一，未来几个季度可以期待更多更新。第四项是在YouTube上购物，这仍然是早期阶段。去年我们通过与Shopify等商务平台合作，将购物引入更多创作者和品牌。现在有超过10万个创作者、艺术家和品牌已将自己的店铺链接到了YouTube频道上，以销售他们的产品。我们对未来的潜力感到兴奋。
A close with an awesome example of where bringing the best across Google to our partners to accelerate innovation Mercedes Benz. In February we announced a first of a kind partnership to bring Google Maps platform and YouTube into future Mercedes Benz vehicles equipped with its next gen MBOS operating system. Beyond enabling the luxury automaker to design a customized navigation interface will also provide AI and data cloud capabilities to advance their autonomous driving efforts and create an enhanced customer experience.
文章主要介绍了谷歌与奔驰合作的例子，谷歌将会帮助奔驰开发下一代MBOS操作系统，包括增强智能驾驶(自动驾驶)的AI和数据云服务，并提供定制化的导航界面和更好的客户体验。该合作将使奔驰更加顺利地实现创新发展，提升品牌影响力。
On that note a big thank you first to our customers and partners for the trust and collaboration and second to our Googlers for all of their incredible work this quarter. Ruth over to you.
在此，首先要感谢我们的客户和合作伙伴们对我们的信任和合作，还要感谢我们的谷歌员工们在本季度中所做出的所有不可思议的工作。现在请转给Ruth。
Thank you, Philip. Our financial results for the first quarter reflect continued healthy fundamental growth in search and momentum in cloud. As I go through the discussion today I will reference some changes to our reporting and disclosures that are covered more fully in the 8K we filed last week. I will conclude with our outlook for the first quarter are consolidated revenues were 69.8 billion up 3% or up 6% in constant currency. Search remain the largest contributor to revenue growth on a constant currency basis.
谢谢你，菲利普。我们第一季度的财务结果反映出搜索业务持续健康的基本面增长和云计算业务的势头。在今天的讨论中，我将引用一些关于我们报告和披露的变化，这些内容在我们上周提交的8K文件中更详细地涵盖了。最后，我将总结我们第一季度的展望。我们的合并收入为698亿美元，同比增长3%，在恒定货币下增长6%。搜索业务仍然是恒定货币下收入增长的最大贡献者。
In terms of expenses and profitability year on year comparisons are impacted by 3 factors. First the 2.6 billion in charges we took in the first quarter related to workforce and office space reductions. We provided a table in our earnings release that shows the impact of those charges on cost of revenues and operating expenses. Second the adjustment we made to the estimated useful lives of servers and certain network equipment at the beginning of 2023. As you can see in our earnings release the effect for the first quarter was a reduction in depreciation expense of $988 million. Third the shift in timing of our annual employee stock based compensation awards from January to March delays the step up in SPC from Q1 to Q2. This shift in timing does not affect the total amount of SPC over the full year 2023.
在费用和盈利方面，逐年比较受到三个因素的影响。首先，我们在第一季度进行了26亿美元的人力和办公空间削减费用的投入。我们在财报发布中提供了一张表格，展示了这些费用对营业成本和营业费用的影响。其次，我们在2023年初对服务器和某些网络设备的预计使用寿命进行了调整。正如我们在财报发布中所看到的，第一季度的影响是折旧费用减少了9.88亿美元。第三，我们员工的年度股权基于补偿奖励的时间从一月调整到了三月，这延迟了从第一季度到第二季度SPC的提升。这种时间调整并不影响全年2023年SPC的总金额。
Total cost of revenues was 30.6 billion up 3% driven by other cost of revenues of 18.9 billion which was up 7%. The biggest factor of which was compensation costs associated with data centers and other operations and followed by content acquisition costs. Operating expenses were 21.8 billion up 19% with a significant impact from the charges related to workforce and office space reductions. Operating income was 17.4 billion down 13% and our operating margin was 25%. Net income was 15.1 billion. We delivered free cash flow of 17.2 billion in the first quarter and 62 billion for the trailing 12 months. We ended the quarter with 115 billion in cash and marketable securities.
营收总成本为306亿美元，增长了3%，其中其他营收成本为189亿美元，增长了7%。导致这一增长的最大因素是与数据中心和其他运营相关的补偿成本，其次是内容获取成本。运营费用为218亿美元，增长了19%，其中人员和办公空间减少相关的费用对其有重大影响。运营收益为174亿美元，下降了13%，我们的运营利润率为25%。净收入为151亿美元。我们在第一季度实现了172亿美元的自由现金流，过去12个月为620亿美元。我们以1150亿美元的现金和有价证券结束了这一季度。
Turning to our segment results these were affected by two additional changes outlined in our 8K filing. First, reflecting the increasing collaboration between deep-mind and Google services, Google Cloud and other bets. As of Q1, deep-mind is reported as part of Alphabet's unallocated corporate costs. And second, beginning in the first quarter, we updated our cost allocation methodologies to provide our business leaders with increased transparency for decision making. In our filing, we provided a recast of prior period results for the segment for these two changes. The highlights of the year on your performance of our segments that I will review reflect these recast results.
转向我们的业务部分结果，它们受到了我们在8K文件中概述的两个额外改变的影响。第一，反映了DeepMind与Google Cloud和其他投资之间日益增长的合作关系，自Q1开始，DeepMind被报告为Alphabet未分配的公司费用的一部分。第二，从第一季度开始，我们更新了成本分配方法，以便为我们的业务领导人提供更多决策透明度。在我们的文件中，我们提供了此两项变化对该业务部分先前期间结果的重新计算。我将审查我们的业务部分表现的年度亮点，反映这些重新计算的结果。
Starting with Google services, revenues were 62 billion up 1%. Google search and other advertising revenues of 40.4 billion in the quarter were up 2%. YouTube advertising revenues of 6.7 billion were down 3%. Network advertising revenues of 7.5 billion were down 8%. Other revenues were 7.4 billion up 9%. Reflecting primarily ongoing significant subscriber growth in YouTube TV and YouTube Music Premium. TAC was 11.7 billion down 2%, primarily reflecting a mix shift between search and network. Google services operating income was 21.7 billion down 1% and the operating margin was 35%.
从谷歌服务开始，收入为62亿美元，增长1%。该季度谷歌搜索和其他广告收入为404亿美元，增长2%。YouTube广告收入为67亿美元，下降3%。网络广告收入为75亿美元，下降8%。其他收入为74亿美元，增长9%。这主要反映了YouTube TV和YouTube Music Premium的持续重大用户增长。TAC为117亿美元，下降2%，主要反映了搜索和网络之间的混合变化。谷歌服务营业利润为217亿美元，下降1%，营业利润率为35%。
Turning to the Google Cloud segment, revenues were 7.5 billion for the quarter up 28%. Growth in GCP remained strong across geographies, industries, and products. Google workspaces strong results were driven by increases in both seats and average revenue per seat. Google Cloud had operating income of 191 million and the operating margin was 2.6%.
谈到谷歌云业务部门，本季度收入为75亿美元，同比增长28%。无论在地理位置、行业还是产品方面，GCP的增长仍然强劲。谷歌工作空间的出色成绩得益于座位数量和平均每个座位的收入增加。谷歌云业务的营业利润为1.91亿美元，营业利润率为2.6%。
As to our other bets for the first quarter revenues were 288 million and the operating loss was 1.2 billion.
关于我们在第一季度的其他投资，收入为2.88亿美元，而运营亏损为12亿美元。
Turning to our outlook for the business, in terms of the operating environment, our results in the first quarter reflected ongoing headwinds due to a challenging economic environment and the outlook remains uncertain. Foreign exchange headwinds have moderated and we expect less of a foreign exchange headwind in the second quarter based on current spot rates. With respect to Google services, within advertising, Q1 results reflect the resilience of search with its unique ability to surface demand and deliver measurable ROI. Excluding the impact of foreign exchange, the revenue growth of search was similar to last quarter. In YouTube, we saw signs of stabilization in ad spend on a sequential basis. We continued to prioritize growth in shorts engagement where we are encouraged by progress and monetization.
我们对业务展望的方面，从营运环境来看，我们在第一季度的结果反映了由于挑战性经济环境而持续存在的困难和前景仍不确定的情况。外汇头寸压力已有所减轻，根据当前汇率，我们预计第二季度外汇头寸压力将减少。关于谷歌服务，广告方面，第一季度的结果反映出搜索具有独特的能力来呈现需求并实现可衡量的投资回报率的弹性。在不考虑外汇影响的情况下，搜索的营收增长与上一季度相似。在YouTube上，我们看到了广告支出按顺序稳定的迹象。我们继续优先增长短视频的参与度，在这方面，我们对进展和获利感到鼓舞。
As to other revenues, in YouTube subscriptions, we are pleased with the significant ongoing subscriber growth in both YouTube music premium and YouTube TV.
至于其他收入方面，在YouTube订阅方面，我们很高兴地看到YouTube音乐高级版和YouTube电视的持续订阅增长。
In play, revenues were down year on year, primarily due to the continued impact of foreign exchange in APAC, although results have improved as we lapped the impact from our introduction of fee reductions last year.
在业务方面，收入同比下降，主要是由于亚太区外汇的持续影响，虽然我们已经超过去年降低费用的影响，但是业绩已经有所改善。
Turning to Google Cloud, our investments in product innovation, our go-to-market organization, and our partner ecosystem, delivered strong results as customers across industries and geographies increasingly rely on Google Cloud to digitally transform their businesses. That being said, in Q1, we continued to see slower growth of consumption as customers optimized GCP costs reflecting the macro backdrop, which remains uncertain.
我们的投资在产品创新、市场营销组织和合作伙伴生态系统方面转向了Google Cloud，并取得了强劲的业绩，因为越来越多的跨行业和地域的客户正在依靠Google Cloud进行数字化转型。即便如此，在第一季度，我们仍然看到消费增长放缓的趋势，因为客户在面对仍然不确定的宏观环境时优化了GCP成本。
In terms of operating performance, we remain focused on driving long-term profitable growth in cloud while continuing to invest given the substantial opportunity.
就运营表现而言，我们仍然专注于在云服务领域实现长期盈利增长，并在机遇巨大的情况下继续投资。
Moving to other bets, in the first quarter, we similarly work to refine strategies and prioritize efforts across the portfolio, including reductions to headcount.
在涉及其他投注时，我们在第一季度同样努力完善策略和优先分配资源，包括减少人员编制。
I will now walk you through an update on our efforts to re-engineer our cost base, slowing the pace of operating expense growth, while creating capacity for key investment areas, particularly in supportive AI across the company.
现在我将向您介绍我们重新设计成本基础、减缓运营费用增长速度的努力，并为公司各主要投资领域，特别是支持性人工智能，创造能力的最新进展。
First, as discussed on the fourth quarter call, we have efforts underway in three broad categories. Number one, using AI and automation to improve productivity across alphabet for operational tasks, as well as the efficiency of our technical infrastructure. Number two, managing our spend with suppliers and vendors more effectively. And number three, continuing to optimize how and where we work.
首先，如在第四季电话会议上所讨论的那样，我们正在进行三个广泛分类的努力。第一，利用人工智能和自动化技术来提高字母表各项业务任务的生产效率，以及技术基础设施的效率。第二，更有效地管理我们与供应商和供应商的支出。第三，继续优化我们的工作方式和地点。
As we've noted previously, all three work streams are ramping up this year, and we plan to build on these efforts in 2024 and in subsequent years.
正如我们之前提到的那样，今年我们的三个工作流程都将加速推进，我们计划在2024年和以后的年份基础上进一步推进这些努力。
Second, with respect to headcount growth. The reported number of employees at the end of the first quarter includes almost all of the employees impacted by the workforce reduction we announced in January. We expect most of the impacted individuals will no longer be reflected in our headcount by the end of the second quarter. In terms of the outlook for headcount for the year, as we shared last quarter, we are meaningfully slowing the pace of hiring in 2023, while still investing in priority areas, particularly for top engineering and technical talent.
其次，关于员工数量的增长。第一季度末报告的员工人数中，几乎包括了我们在一月份宣布的员工裁员计划中受到影响的所有员工。我们预计，大多数受影响的人将在第二季度末不再反映在我们的员工总数中。至于今年员工数量的展望，正如我们上季度所分享的，我们将大幅减缓2023年的招聘速度，同时重点投资于顶尖工程和技术人才等优先领域。
In terms of our investments in AI, we are excited about the creation of Google DeepMind, combining the brain team from Google Research with DeepMind, with the goal to accelerate innovation and impact. Beginning in the second quarter of 2023, the costs associated with teams and activities transferred from Google Research will move from Google Services to Google DeepMind within Alphabet's unallocated corporate costs.
就我们在人工智能方面的投资而言，我们对Google DeepMind的创立感到兴奋，它将Google Research的大脑团队与DeepMind团队合并，旨在加速创新和影响力的发展。从2023年第二季度开始，与从Google Research迁移的团队和活动相关的成本将从Google服务转移至Alphabet未分配的公司成本中的Google DeepMind。
Finally, as it relates to CAPEX, for 2023, we now expect total CAPEX to be modestly higher than in 2022. As discussed last quarter, CAPEX this year will include a meaningful increase in technical infrastructure versus a decline in office facilities. We expect the pace of investment in both data center construction and servers to step up in the second quarter and continue to increase throughout the year.
最后，关于资本支出（CAPEX），我们预计2023年的总CAPEX将略高于2022年。正如上季度所讨论的，今年的CAPEX将包括技术基础设施的显著增加，而办公设施将减少。我们预计数据中心建设和服务器投资的速度将在第二季度加快，并在全年继续增加。
Thank you. Sundar, Philip, and I will now take your questions. Thank you.
谢谢。现在，Sundar、Philip和我将回答你们的问题。谢谢。
As a reminder to ask a question, you will need to press star one on your telephone. Background noise, we ask that you please mute your line once your question has been stated.
作为提醒，如果您想提出问题，您需要按下您电话上的星号键+数字一。为了避免背景噪音，我们请求在您提问完成后，请将您的电话静音。
Your first question comes from Brian Nook of Morgan Stanley. Please go ahead.
您的第一个问题来自摩根士丹利的布赖恩·努克。请发问。
意思：布莱恩·努克是一位摩根士丹利的代表，他即将提出问题。请他提问。
Great. Thanks for taking my questions. I have two.
太好了。感谢您回答我的问题。我有两个问题。
First one for Sundar. Sundar, as you think over the course of the next 12 months, we have a lot of new AI tools to show us. What new behavior changes or capabilities are you most excited about for users, developers, and advertisers as these tools come out?
首先是针对Sundar的。Sundar，当您考虑接下来的12个月的过程时，我们有很多新的AI工具来展示给您。这些工具问世后，您最期待用户、开发者和广告商能获得什么样的新行为变化或能力呢？
Then the second one for Ruth, could you talk to us about how much of the AI tools have you incorporated internally to drive more productivity out of your engineers, your sales force, your G&A, or is that something to come over the next couple of years?
那么，Ruth，你能和我们谈谈你们内部已经整合了多少人工智能工具以提高工程师、销售人员和行政管理等方面的生产率吗？或者这是未来几年要发生的事情吗？
Thanks. Brian, it is an exciting time. I do think we see an opportunity to across the breadth of what we do at Google to improve our experiences.
谢谢，布莱恩，这是一个兴奋的时刻。我认为我们看到了一个机会，在Google所做的一切方面，去改进我们的体验。
Obviously in search, we have been using AI for a while. It is what has really helped lead search and search quality for the past few years using other lamps. We now have a chance to more natively use the lamps.
很明显，在搜索领域，我们已经使用了一段时间的人工智能。这是过去几年中其他技术的重要贡献，帮助提高了搜索和搜索质量。现在我们有机会更本地化地利用这些技术。
I think the main way, and by the way, as I said in my remarks, we are going to be deliberate. We are not going to start us getting it right for users, so we will iterate and innovate as we have always done.
我认为主要的方法是，顺便说一下，正如我在演讲中所说的，我们将会非常谨慎。我们不会一开始就让用户满意，因此我们将像以前一样进行迭代和创新。
The main area I am excited about is we do know from experience that users come back to search. They follow on, they are engaging back on stuff they already did. For us to use the lamps in a way we can serve those use cases better. I think it is a real opportunity.
我最兴奋的领域是，我们可以从经验中得知用户会再次进行搜索。他们会继续关注，对他们已经做过的事情进行互动。为了更好地服务这些使用案例，我们可以利用这些经验。我认为这是一个真正的机会。
If it is YouTube, the chance to really improve experiences for creators and consumers in terms of how the videos are viewed, it is a try. We have already changed the process of rolling out. It is an area where I think we will see the biggest advances because productivity is a strong use case in which generative AI can help.
如果说是YouTube，那么我们有机会真正改善视频观看体验，包括创作者和消费者。我们已经改变了部署流程。我认为，在这个领域里我们会看到最大的进展，因为生产力是生成AI有助于的一个强大应用案例。
Obviously, on cloud, this has been an important moment as pretty much every organization is thinking about how to use AI to drive transformation. So across the board, from startups to large companies, they are engaging with us. So I viewed as a point of infection there as well.
很明显，在云计算领域，这是一个重要时刻，因为几乎每个组织都在考虑如何利用人工智能来推动转型。因此，无论是初创公司还是大型企业，他们都与我们合作。因此，我认为这也是一个传染点。
As I noted, we have a number of efficiency efforts underway and one of them is about using AI and automation to further improve productivity across alphabet. That being said, we already have AI and a lot of what we do, for example, in the way we operate and run the finance organization. It is helpful in a lot of the analytics that we use.
正如我所提到的，我们正在进行多项效率提升工作之一是利用人工智能和自动化技术进一步提高Alphabet的生产力。话虽如此，我们目前已经在金融组织运营和管理中使用了人工智能，并且在我们所使用的分析工作中也非常有帮助。
One of the exciting things for us is the opportunity to share that with cloud customers. Some are just noted what we are doing within Google Workspace. We obviously all live on Google Workspace. That is another example of how we benefit internally from the productivity from AI. This is also something that is available for users and enterprise customers more broadly.
我们非常兴奋的事情之一就是有机会与云客户分享这些。有些人只是知道我们在Google Workspace中的工作。显然，我们所有人都生活在Google Workspace中。这是另一个例子，展示了我们如何从AI的生产力中受益。这也是一个广泛适用于用户和企业客户的工具。
Finally, one of the areas that we have talked about is the opportunity with our compute capacity and all that we have done there and the infrastructure innovation, which again is helpful internally for what we do, but on behalf of our customers. Great. Thank you both.
最后，我们谈到的一个领域是我们的计算容量以及我们在基础设施创新方面所做的一切，这对我们内部的工作非常有帮助，也有益于我们的客户。非常好。谢谢两位。
Thank you. The next question comes from Doug Annath of G. P. Morgan. Please go ahead.
谢谢。下一个问题来自G.P.摩根的Doug Annath。请发言。
意思：谢谢。接下来的问题来自G.P.摩根的Doug Annath。请提出您的问题。
Thanks for taking the questions. One for Sundar and then one for Ruth. Sundar, just as you think about integrating Bard and your search product over time, can you just talk more about what percentage of search queries you think would utilize large language model type responses and how should we think about the costs of running search on these models relative to today.
谢谢你回答问题。我有一个问题是针对Sundar的，还有一个是针对Ruth的。Sundar，当你考虑在搜索产品中集成Bard时，你能否更多地谈论一下你认为会使用大型语言模型响应的搜索查询的百分比，以及我们应该如何看待与今天相比运行这些模型的成本。
And then Ruth, I was just hoping you could follow up on your comment on CAPEX. If you could help us understand the modest step up in CAPEX relative to three months ago. Thank you.
然后，Ruth，我希望你能够跟进一下关于CAPEX的评论。如果你能够帮助我们理解相对于三个月前的CAPEX适度增加。谢谢。
翻译：接下来，Ruth，我希望你能够回答一下关于CAPEX的问题，帮助我们理解为什么它相对于三个月前有了适度的增加。谢谢。
Thanks, Doug. You know, obviously we have launched Bard as a complimentary product to search, but we will be bringing, you know, LLM experiences more natively into search as well. I do think, you know, first of all, on we'll be rolling it out in a incremental way so that we can test it, trade and innovate. So I think we'll approach it that way.
谢谢，道格。显然，我们已经推出了巴德作为搜索的补充产品，但我们也将把LLM体验更自然地引入搜索中。我想，首先，我们将逐步推出它，以便我们可以测试、交易和创新。所以我认为我们会以这种方式处理它。
I think overall, you know, I think it can apply to a broad range of queries. So I think I'm excited that it can allow us to better help users in a category of queries, maybe in which there was no right answer and they're more creative, et cetera. So I think those are opportunities. But even in our existing query categories, where we get a chance to do some heavy lifting for the users and use AI to better give guide and guide them, you know, I think you will see us exploring in those directions as well. It's early days, but I think there's a lot of innovation to come.
我认为总的来说，它可以适用于各种查询。所以我很兴奋，因为它可以让我们更好地帮助用户解决一些没有明确答案的创意性问题。这些都是机遇。即使在现有的查询类别中，我们有机会为用户提供更好的指导，利用人工智能来帮助他们解决问题，我认为你也会看到我们在这些方向上不断探索。现在才刚刚开始，但我认为还有很多创新的可能性。
On the cost side, you know, we've always, you know, costs of computers always been a consideration for us. And if anything, I think it's something we've developed extensive experience over many, many years. And so for us, it's a nature of habit to constantly drive efficiencies in hardware, software, and models across our fleet.
成本方面，你知道，计算机成本一直是我们考虑的因素。如果有什么问题，我认为多年来我们已经积累了丰富的经验。对我们来说，不断驱动我们的硬件、软件和模型的效率，已经成为一种习惯。
And so this is not new. If anything, you know, the sharper the technology curve is, we get excited by it, because I think we build world class capabilities in taking that and then driving down cost sequentially and then deploying it at scale across the world. So I think, I think, you know, we'll we'll take all that into account in terms of how we drive innovation here and but I'm comfortable with how we approach it.
因此，这并不是新鲜事。 如果说有什么变化的话，你知道，技术曲线越陡峭，我们就越兴奋，因为我认为我们可以在这方面建立世界一流的能力，并逐步降低成本，然后在全球范围内部署。 因此，我认为，在推动创新方面，我们会考虑到所有这些因素，但我对我们的方法感到满意。
And in terms of catbacks, we do now expect that total catbacks for the year for 2023 will be modestly higher than in 2022 and tried to point out that we're expecting a step up in the second quarter and that will continue to increase throughout the year. And you know, as we discussed last quarter, AI is a key component and underlies everything that we do and we're continuing to invest in support of AI, support of our users, advertisers, and our cloud customers. So we're commenting on here.
就中端消声器而言，我们预计2023年的总销量将比2022年略有增加，并试图指出我们预计第二季度将迈入新台阶，并将在整个年度持续增长。正如上季度讨论的那样，智能化是我们所做的一切工作的关键组成部分，在AI的支持下，我们继续投资以支持我们的用户、广告客户和云客户。因此，我们在此做出评论。
And then as we talked about last quarter, the increase in catbacks for the full year 2023 reflects the sizeable increase in technical infrastructure investment. And on the flip side, a decline in office facilities relative to last year. Thank you both. Thank you.
接着我们上个季度所讨论的，2023年猫背的增加反映了技术基础设施投资的大幅增加。另一方面，相对于去年，办公设施有所下降。非常感谢你们两位。谢谢。
The next question comes from Eric Sheridan from Goldman Sachs. Please go ahead. Thank you so much for taking the questions and hope everyone on the team as well. Maybe two if I could first on cloud.
下一个问题来自高盛的Eric Sheridan，请发言。非常感谢您回答问题，希望您和团队的每个人都一切顺利。如果可以，我想先谈谈云端方面的两个问题。
Obviously one of the dominant themes you touched upon is this client optimization theme that's going on broadly and cloud computing. Can you give us a little bit more of your perspective on where we are in terms of the optimization theme broadly and cloud computing as a headwind, either revenue growth or backlog growth compared to the tailwinds of broader long term consumption growth and possibly the contribution of AI initiatives to cloud computing growth. And then second on YouTube, obviously you've seen a lot of success with respect to engagement and consumption on shorts.
显然，您提到的主要主题之一是客户优化主题，在广泛应用云计算。您能否进一步阐述您对优化主题和云计算作为风向与长期消费增长和人工智能对云计算增长的贡献相比，对收入增长或积压增长的影响的看法。然后，在YouTube上，很明显您在短视频方面已经取得了很大的成功，无论是在参与度还是消费方面。
Can you give us an update on where we are on monetization trends and shorts compared to the consumption you've already seen in usage ships. Thank you so much.
请问能否给我们更新一下我们在货币化趋势和短视频方面的情况，与您已经看到的使用情况相比呢？非常感谢。
So in terms of the cloud cloud question, you know, the point we're trying to underscore is there's uncertainty in the economic environment. And so we saw some headwind from slower growth of consumption with customers really looking to optimize their costs given that macro climate. Leave the forecasting to you on that, but you know, both Sundar and I commented on really pleased with the momentum that the team has been delivering in the breadth of what they've been working on. I do think you know, I would add that, you know, we're leaning into optimization and there's an important moment to help our customers and we take a long term view. And so it's definitely an area we're leaning in and trying to help customers, you know, make progress in the efficiencies where we can fill it.
关于云计算问题，我们想要强调的是经济环境的不确定性。因此，在宏观气候下，我们看到一些来自客户消费增长放缓的压力，客户正在努力优化成本。至于预测，我们将由您完成，但Sundar和我都对团队一直在推动的势头和工作广度感到非常满意。我认为，我们正在致力于优化，并且现在是帮助我们的客户的重要时刻，我们需要长期看待。因此，我们一定会在这个领域倾向于努力，尽我们所能帮助客户在效率方面取得进展。
Yes, on the short side, look, short stewardship is growing rapidly. We announced 50 billion plus daily views on the Q4 earnings call up from 30 billion last spring. We're pleased with our continuing progress and monetization, as I said earlier, people are engaging and converting on ads across shorts at increasing rates, closing the gap between shorts and long form is a top priority for us as is continuing to build a greater creator and user experience. Ads on shorts are now available via video action app discovery and performance max campaigns and via product feeds. Shorts are also shoppable. Again, we're the only destination where creators can produce all forms of content across multiple formats and screens with multiple ways to make a living.
是的，在短视频领域，我们的短视频服务正在迅速增长。在第四季度财报电话会议上，我们宣布每天的观看次数已经达到了50亿以上，比去年春季的30亿有了很大提高。我们对于不断增长的收益和用户参与率等方面的进展感到满意。如我之前所说，人们对于短视频广告的参与和转化率不断提高，我们现在的首要任务是缩小短视频和长视频之间的差距，并继续提升创作者和用户的体验。现在，您可以通过视频行动应用发现、性能极限广告系列以及产品信息流来展示短视频广告，同时短视频也可以进行购物。再次强调，我们是唯一一个允许创作者生产各种格式和屏幕上的内容，并提供多种获利方式的平台。
And as Sundar said last year, the number of channels that uploaded to shorts daily grow over 80% and then in February, we brought revenue sharing to shorts via YouTube partner program. Our sustainable revenue sharing model at scale remains pretty unique in the industry and we continue to see strong creator adoption. So ultimately, our goal is to make YouTube the best plates for shorts, yours and creators. And that's really what we're focused on right now. Thank you.
正如Sundar去年所说的，每天上传到shorts的渠道数量增长超过80%，然后在二月份，我们通过YouTube合作伙伴计划为shorts引入了收益共享。我们的可持续收益共享模型在规模方面仍然非常独特，我们继续看到强烈的创作者采纳。因此，我们的目标是让YouTube成为最好的shorts平台，您和创作者的。这确实是我们目前关注的重点。谢谢。
Thank you. The next question comes from Ross Sandler of Berkeley. Please go ahead. I also ask a tough question.
谢谢。下一个问题来自伯克利的罗斯·桑德勒。请提问。我也要问一个艰难的问题。
意思是主持人接受了Ross Sandler的提问请求，而Ross Sandler会提出一个艰难的问题。
Sundar, you came up in the group that structured a lot of the Android partnerships from inception. And I believe possibly the iOS agreement as well. So how do you feel about alphabet's ability to maintain the unit economics with these partnerships in light of Microsoft's ambitions to increase the share of paid search. And the root of this, have any impact on your outlook for profitability of overall alphabet over the long term. Thank you.
Sundar，您曾参与组织Android伙伴关系的团队，并且我认为您也可能涉及了iOS合作协议。因此，您认为Alphabet公司在Microsoft试图增加付费搜索率的背景下，能否维持这些伙伴关系的单元经济? 这个问题的根源，是否会对您对Alphabet公司长期盈利能力的前景产生影响？谢谢。
Maybe I'll look at the these dynamics are have always been around. It's important to remember, you know, as far as I can remember, we've always been in a competitive environment for these deals. And while I can comment on the specifics of any of our partnership agreements, what is served as well is always first of all building the best product possible focused on giving value to users. And when we work with our partners, we work hard to, you know, create a win win, win win experience and ultimately partners end up choosing us because that's what their users want. And you know, it's always been what's helped help search be widely distributed. So I think it all starts with continuing to innovate and improve search and making sure we are leading leading there. So I think we always approach it, you know, very robustly over the many, many years and I'm comfortable that will continue to be able to do so.
也许我会看看这些动态一直存在的情况。我们必须记住，就我所知，我们一直处于这些交易的竞争环境中。虽然我不能对任何合作协议的具体细节发表评论，但我们的首要任务是建立尽可能最好的产品，专注于为用户提供价值。当我们与合作伙伴合作时，我们努力创造一种双赢的体验，最终合作伙伴选择我们是因为这正是他们的用户想要的。你知道，这一直是帮助搜索广泛传播的原因。因此，我认为一切都始于不断创新和改进搜索，并确保我们在这方面处于领先地位。因此，我认为我们始终以非常健壮的方式处理这些事情，这种做法已经持续了很多年，我相信我们将继续这样做。
And then in terms of just longer term profitability, I think I brought an out your question somewhat because the way we're looking at it is we continue to be committed to investing for growth and we want to ensure we have overall capacity for growth. And so we have a number of work streams underway to as we keep describing it, durably reengineer our cost space. And in particular, what we're excited about are long term opportunities with AI and want to make sure we have the capacity to continue to invest there in the other areas where we see long term growth and search and ads cloud YouTube hardware. And so that underscores our efforts to build in additional flexibility. And as we have said repeatedly, we want to ensure that expense growth is not growing at a revenue growth. And that means driving revenue growth and really being as, as disciplined as we can on the market. And as disciplined as we can on these various work streams that we've discussed earlier in this call in last quarter as well to improve our expense growth trajectory.
就长期盈利而言，我认为我有点偏离了你的问题，因为我们的看法是我们继续致力于投资和增长，并确保我们拥有整体的增长能力。因此，我们正在开展一系列工作流程，以持久地重新设计我们的成本结构。特别是，我们对AI的长期机遇感到兴奋，并想确保我们有能力在搜索、广告、云、YouTube、硬件等其他领域继续投资。这强调了我们建立更多灵活性的努力。正如我们反复强调的那样，我们希望确保支出增长不高于营收增长。这意味着推动营收增长，以及我们在市场上尽可能严格的自律，以及我们在这个电话会议中和上个季度分别讨论的这些不同工作流程中得到的提高支出增长轨迹。
Thank you. The next question will come from Justin Post of BAML. Please go ahead.
谢谢。接下来的问题将来源于BAML的贾斯汀·波斯特。请开始提问。
Great. Thanks. Maybe one for send our one for Ruth. Sorry, you got the cost question on learning language models into search. Can you talk about revenues? On one hand, you'll see better relevancy and maybe better results with higher conversion. But on the other hand, there might be fewer areas for ads or fewer queries because people get answers quickly more quickly. Are you optimistic on that transition and maybe give us your thoughts there? And then Ruth, back in after one time charges, it looks like op-ex growth is now 8%. So real progress there. Could you give us a flavor of where you are you think in your optimization cycle?
太好了，谢谢。也许我们需要一份给发送者，一份给鲁斯。抱歉，你谈到了语言模型学习成本的问题，你能谈谈收入吗？一方面，更好的相关性和更高的转化率可能会带来更好的结果。但另一方面，可能会有更少的广告领域或更少的查询，因为人们更快地获得答案。你对这种转变持乐观态度吗？也许可以分享一下你的想法？然后鲁斯，在扣除一次性费用后，操作费用增长现在是8%。所以在那方面做了不少进展。你能说说你们在优化周期中处于哪个阶段吗？
Thank you. So, first of all, throughout the years, as we have gone through many, many shifts in search and as we have all searched, I think we've always had a strong grounded approach in terms of how we evolve ads as well. And we do that in a way that makes sense and provide value to users. And the fundamental drivers here are people are looking for relevant information and in commercial categories, they find ads to be highly relevant and valuable. And so that's what drives this virtual cycle. And I don't think the underpinnings of the fact that users want relevant commercial information, they want choice and what they look at even in areas where we are summarizing and answering, etc. Right users want choice. We care about sending traffic, advertisers want to reach users. And so all those dynamics, I think, which have long served as well remain. And as I said, we'll be, we'll be iterating and testing as we go. And I feel comfortable, we'll be able to drive innovation here like we've always done.
首先，经过多年的发展和搜索的持续演变，我们始终坚持在广告方面采取了一种强有力的基本方法。我们通过提供对用户有价值的信息来演化广告，使其更加合理化。关键的驱动因素是用户寻找相关信息，在商业类别中，他们发现广告高度相关且有价值。这就是推动这种虚拟循环的原因。我认为用户需要相关的商业信息和选择，即使在我们总结和回答问题的领域，他们仍然需要选择。我们关注的是发送流量，广告商想要接触用户。所以，这些长期以来一直为我们服务的动态因素仍然存在。正如我所说，我们将不断迭代和测试。我相信我们能够像以往一样推动创新。
And in terms of our op-x trajectory, yes, there was the elevated expense and op-x from the 2.6 billion in severance and office space charges. There was also a $988 million benefit from lower depreciation due to the change in useful lives, but that obviously is an ongoing benefit. And there was also as we noted in our earnings release, a benefit from the shift in timing of stock-based compensation from the first quarter to the second quarter. So a little bit of complexity there, but at the core of your question, we remain extremely focused on these various work streams that we've talked about.
在我们的运营支出轨迹方面，确实有26亿美元的安置费用和办公场所费用所致的高额支出和操作费用。由于有用寿命的改变，还有来自较低折旧的98.8亿美元的收益，但这显然是一种持续的效益。正如我们在收益发布中指出的那样，还从第一季度到第二季度的股票补偿时间的变化中获得了利益。有点复杂，但在您的问题核心上，我们仍然专注于我们所谈到的各种工作流。
It starts with the pace of hiring. It goes to the various work streams that both Sundar and I referenced around using AI and automation to improve productivity, all that we're doing with suppliers and vendors to be as efficient as possible, all that we're doing around optimizing how and where we work, you've seen some of those announcements. This quarter, beyond the workforce reduction, things that we're doing in, for example, office services and we're executing against each of these various work streams. So our view is that there's more to do, and as we try to be clear, we're in execution mode. You'll see some of the benefit in 23. You'll see more of it in 24, and we're going to continue building against it beyond. Great. Thank you. Thank you.
这始于我们招聘的步伐，然后涉及到我们和Sundar提到的各种工作流，包括利用人工智能和自动化来提高生产力，以及我们与供应商和供应商一起进行的所有工作，以实现尽可能高的效率，还有我们在优化我们工作的方式和地点方面所做的一切，你们已经看到了其中的一些公告。除了工作人员减少以外，这个季度我们还进行了一些办公室服务方面的工作，并且我们正在执行每个工作流程。因此，我们的看法是还有更多事情要做，我们正在尝试明确，现在我们正在执行模式中。你们将在23年看到一些好处，24年将看到更多的好处，而我们将继续在这方面进行建设。非常感谢。谢谢。
The next question comes from Michael Nathanson of Moffett, Nathanson. Please go ahead. I want to help one through it. Phil, we're trying to get under the hood on search advertising and trying to understand changes in demand between sellers of goods and sellers of services. You can get the same help looking at the service side, has the man return back to pretty pandemic levels and then in terms of goods and the commerce. Have you seen a slowing of demand? I think it helped with this level set it back to maybe pre-pandemic levels to understand, you know, that services versus the goods demand and for root on the terms of efficiency and being the result of that. How does this significantly harder cost a capital impact the way you imagine and evaluate the other best assets or anything there on. I may be rethinking from the other best and what are you doing and changing some of the structures about the other best assets.
下一个问题来自Moffett，Nathanson的Michael Nathanson先生。请发言。我想帮您理解这个问题。 Phil，我们正在尝试深入了解搜索广告的情况，并试图理解销售商品和销售服务需求之间的变化。您可以从服务方面得到同样的帮助，看服务需求是否已恢复到疫情前的水平，以及商品和商业方面的需求是否有放缓。我认为了解这一水平设置可能会帮助我们回到疫情前的水平，了解服务和商品需求以及效率和结果方面的情况。这种显著加剧的资本成本会影响您如何想象和评估其他最佳资产或任何其他投资方面的变化。我可能正在重新考虑其他投资方面，您在改变其他最佳资产的结构方面采取了哪些措施呢？
Thanks. It was a bit hard to hear you were breaking up. So I think I wanted to start and address what I heard as the second question as we're looking at higher cost a capital and this environment. How does that affect the way we're looking at other bets? Hopefully we heard you correctly. It was crackling. Look, I think as we've talked about repeatedly as it relates to other bets, our focus is to use deep technology to drive innovation and we're very focused on the pace of investment, investment, and financial returns. That has been a consistent focus to generate attractive returns and I think the core operating models and the long term operating models are going to be the most relevant as we're looking at the returns we can generate. Yes, absolutely mindful of the higher cost capital, but I think it's core. We're looking at what's the what's the value creation and the return on those and as we indicated when we went through the reduction in force, we similarly worked across the other bets and some of them as they're on a path to to ongoing growth. We were moderating what is the expense trajectory there as we're looking at what's the overall return on invested capital and we're continuing to work on these to make sure that we're delivering value at your point is an important one that's part of a broader question about the underlying operating assumptions.
谢谢。有些难以听清，你的声音有点断断续续。所以我想开始回答我所听到的第二个问题，我们正在面对更高的成本资本环境，这将如何影响我们看待其他投资？希望我们听清楚了。听起来有点杂音。我们一再强调，与其他投资相关的关键是运用深度技术推动创新，我们非常关注投资的速度、投资和财务回报。这一直是一个持续关注的焦点，产生有吸引力的回报。我认为，核心的经营模式和长期经营模式将是最相关的，因为我们正在寻求可以产生回报的投资。是的，当然会注意到更高的成本资本，但我认为这是核心的。我们正在寻求价值创造和回报，并且正如我们在裁员时所指出的，我们同样在其他投资领域工作，一些投资正处于持续增长的轨道上。我们正在调整支出轨迹，以便了解总投资回报率。我们继续致力于确保我们提供价值，你提出的问题是重要的，也是更广泛的关于基本经营假设的问题的一部分。
On the first part, again, it didn't come across quite clearly, but I hope I understood correctly in search revenues grew modestly year-to-year again reflecting an increase in their retail and travel verticals offset partially by decline in finance and media entertainment. So excluding the impact of FX performance was actually similar to last quarter, the ongoing performance of search notwithstanding the headwinds reflects really search resilience with the I'd say ability of search to surface demand and deliver a measurable R I in an uncertain environment. I called out the key verticals in the quarter. There's really no additional color on other verticals. I'd say maybe more broadly what we saw reflects what's being reported elsewhere and across the headlines, many companies are very focused on shorter term profitability amidst this uncertainty and some pullback at budgets as well. Thanks. That's clear. Thank you.
第一部分表达并不十分清晰，但我希望我能正确理解，即搜索收入年同比略有增长，再次反映了他们零售和旅游领域的增长，部分抵消了金融和媒体娱乐领域的下降。因此，除了汇率的影响，表现实际上类似于上一季度。搜索的持续表现表明，尽管面临风险，搜索具有挖掘需求和提供可衡量的回报的能力。我在这一季度强调了关键领域，其他领域没有更多的细节。我认为，更广泛地说，我们所看到的反映了其他企业和头条新闻中报道的情况：许多公司在这种不确定性中非常关注短期盈利能力并收缩预算。谢谢，这很清楚。谢谢。
The next question comes from Mark Mahaney of Evercore. Please go ahead.
下一个问题来自Evercore的Mark Mahaney。请继续发问。
Okay. Could I try two questions please? I think Philip, you talked about them kind of a more of a pullback in network ad revenue versus search and YouTube. Do you have any thoughts on why that was the case? And then Ruth, the cloud business, even with the accounting changes shown this very steady march towards profitability, you turned the corner now, you talked about growing the business for long term profitability.
好的。我可以提出两个问题吗？我认为菲利普，你谈到了网络广告收入的回落，相对于搜索和YouTube方面。你对此有什么想法吗？然后，露丝，尽管出现了会计变更，云业务仍在持续向盈利前进，你已经转过了这个拐角，你谈到了为长期盈利增长业务。
But are there any reasons why we wouldn't, whether it shouldn't be sustainably profitable, starting from here as the business continues to scale or could it be that that profitability could be wildly for a while before it's sustainably profitable, that segment cloud. Thank you.
但是否有任何理由我们不会做到可持续盈利呢？从现在开始随着业务的扩大，或许它不应该是可持续盈利的，或者说在它可持续盈利之前可能会有短期内的大幅度盈利，尤其是那些云领域。谢谢。
Yeah, why not? I'll take both of those. So in network, really, it's a continuation of what we talked about last quarter, we saw the ongoing pullback in advertiser spend. And you know, I would contrast that last quarter, we talked about both pullback and YouTube and network. And we were pleased that we saw the stabilization and ad spend on the sequential basis in YouTube. We still saw ongoing pullback in network, which tends to be a mix of businesses as you know well.
是啊，为什么不呢？我会将两者都接受。在网络方面，实际上，这是我们上个季度谈论的内容的延续，我们看到广告主支出持续回落。你知道，我会将上个季度的情况与介绍YouTube和网络的情况作比较。我们很高兴地看到，在YouTube中广告支出在顺序上得到了稳定。我们仍然看到网络的广告支出持续回落，这往往是一个业务组合，你很清楚这一点。
And then in terms of cloud, you tried to make that clear and opening comments as well. I think it's a really important question. We are very pleased with the Q1 results. And as both center and I noted, we're, you know, intensely focused on all elements of the cost space and the long term path to attractive profitability.
关于云端，你试图在开场白中表明清楚。我认为这是一个非常重要的问题。我们对第一季度的业绩非常满意。正如中心和我所指出的，我们密切关注成本空间的各个方面和实现有吸引力的盈利能力的长期路径。
At the same time, I think at the core of your question, what we were trying to convey is we will continue to invest to support long term growth. And in particular, given the opportunities, we see delivering AI capabilities to our customers. So, you know, as I said in the past, you shouldn't extrapolate from quarter to quarter, but we are very pleased to be at this level and are continuing to focus on profitability and long term value creation here.
同时，我认为在你提出的问题的核心，我们所要表达的是我们将持续投资以支持长期增长。特别是，鉴于我们看到为客户提供AI能力的机会，我们将会投入更多的资源。因此，如我以前所说，你不应该从一个季度去推断总体趋势，但我们非常高兴能够达到这个水平，并继续专注于盈利能力和长期价值创造。
Okay. Thank you, Ruth. Thank you. And our last question will come from Colin Sebastian from Beard. Please go ahead.
好的，谢谢你，鲁斯。非常感谢。我们最后一个问题来自Beard的Colin Sebastian。请说吧。
意思：这是一场会议结束时的提问环节，主持人向Colin Sebastian发问。
Thank you to you for me as well. I guess first Sundar, the consolidation of the AI teams. I think you talked about that helping to accelerate innovation. So I'm curious, you know, specifically with that consolidation, what are the product milestones that we should look out for related to that.
谢谢你代表我也感谢。我想首先是Sundar整合AI团队。我认为你提到这能加速创新。所以我很好奇，你认为这个整合会带来哪些与产品相关的里程碑呢？请告诉我们。
And then Philip, regarding your comments on retail, specifically on shopping and payments. You know, how should we think about that evolving across the platform this year? Maybe similarly, what are some milestones we should look out for on that front?
菲利普，针对你对零售方面的评论，特别是关于购物和支付的方面，我们应该如何看待今年平台上这些方面的发展？或许类似地，在这方面，我们应该关注哪些重要的里程碑？
Thanks. You know, I'm quite excited by bringing the two world class teams. I think of both brain and deep mind, the collective accomplishments in AI over the last decade, you know, really set the stage for this moment.
谢谢。你知道，我非常兴奋能够把这两支世界一流的团队聚集在一起。我认为，过去十年间大脑和深度思维在人工智能领域所取得的成就，真正为此时此刻铺平了道路。
And so both, you know, both getting access to pool talent, you know, so that we can work together in a coordinated way and definitely will help us pull our computational resources to which is going to be critical. And we'll help us build, you know, the core core product is obviously building more capable models safely and responsibly and doing it, doing it, you know, taking into account all the capabilities our customers need both on the consumer side and the cloud side and being able to iterate and getting that virtual cycle going.
因此，我们需要同时获得共享人才的机会，以便我们可以协同工作，并利用计算资源，这对我们至关重要。这将有助于我们建立更强大、安全和可靠的模型，考虑到我们的客户在消费者端和云端需要的所有功能，并能够迭代和不断改进我们的产品。
So you already, you know, have seen us, you know, put out palm APIs and we are incorporating palm across our products, but we'll continue that progress and, and you know, we'll keep you posted as we do.
你们已经看到我们发布了Palm API，并将Palm整合到我们的产品中，但我们将继续推进这一进程，并将随时向你们通报进展。
So retailers and important vertical and driver for us and I called out the year we are increase in retail and search another. I also talked earlier about the macro climate and how we've established we can really drive value for retailers, even in challenging times, whether it's online offline both.
零售商对我们来说是一个重要的垂直市场和驱动力，我提到我们在零售和搜索方面的增长。我之前也谈到了宏观环境，以及我们如何在在线和离线等艰难时期为零售商带来价值。
We're helping them drive their business goals meet customers, wherever they choose to shop maybe a little more some key trends here retailers are increasingly focused on maintaining margins and driving R.I. right now. B max broad match or key levers providing more incremental conversions while insights on Bidgin, but Bids and budgets are really helping retailers identify opportunities for growth and efficiencies across our suite of products.
我们正在帮助他们实现商业目标，与客户相遇，无论他们选择在哪里购物。这里有一些关键趋势，零售商越来越专注于保持利润率和推动投资回报率。B 最大广泛匹配或关键杆件提供更多的增量转换，同时对于 Bidgin 的洞察，出价和预算确实帮助零售商在我们的产品组合中识别增长机会和效率。
I've taught at length on prior calls about omnichannel or local and omnichannel solutions are helping bridge the gap here between online offline by using AI to reach nearby shoppers, promoter local inventory fulfillment options, optimize in store visits and sales, for example.
在之前的通话中，我详细讲解了全渠道或者本地渠道，全渠道解决方案和本地渠道解决方案正在通过使用人工智能技术，将在线和离线之间的差距缩小，帮助接近的消费者，推广本地库存履行选项，优化店内访问和销售等等。
And then to help really retain local customers and acquiring new ones we have YouTube app deep linking and new customer acquisition goals and pmax are helping here making checkouts easy was tools like virtual cards on chrome is obviously important.
为了真正留住当地的客户并吸引新客户，我们通过YouTube应用程序深度链接和新客户获取目标以及Pmax在此方面提供帮助。使用像Chrome上的虚拟卡片这样的工具使结账变得容易显然很重要。
So those are just some of the key points overall. We're giving retailers really the best I hope AI power tools and solutions to maximize reach and R.I. and really create a seamless experience including where possible on the payment side for their customers and this will continue to be our focus here.
所以这些只是总体上的一些关键要点。我们给零售商提供了最好的人工智能工具和解决方案，以最大化其覆盖范围和收益率，并创造一个无缝的体验，包括在可能的情况下为他们的客户提供支付便利，这将继续是我们的重点。
Thank you and that concludes our question and answer session for today. I'd like to turn the conference back over to Jim Friedland for any further remarks.
谢谢大家参加今天的问答环节。我现在想把会议的主持权交回给Jim Friedland，请他提出任何进一步的评论。
Thanks everyone for joining us today. We look forward to speaking with you again on our second quarter 2023 call. Thank you and have a good evening.
感谢大家今天参加我们的会议，我们期待在2023年第二季度电话会议上再次与大家交流。谢谢各位，晚安。
Thank you everyone. This concludes today's conference call. Thank you for participating. You may now disconnect.
谢谢大家。今天的电话会议到此结束。感谢您的参与。现在您可以断开连接了。