Let's go over Alphabet's earnings.

Google's parent company posted quarterly revenue of $41.16 billion, beating a $40.82 billion analyst consensus and reflecting growth of 13% year over year in U.S. dollars.

The earnings, excluding a $1.7 billion penalty from the European Commission that recently cleared, came in at $9.87 per share, below a $10.68 consensus.

“Our business, led by Search, YouTube, and Cloud, drove Alphabet revenues to $41.2 billion, up 13% versus last year, or 15% on a constant currency basis,” said Alphabet's CFO Ruth Porat in a press release. “Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues. We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.” 

Watch the full video above for Jim Cramer's full take on Alphabet.

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