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  • Writer's pictureRealFacts Editorial Team

Alphabet Stock Pops On Earnings Beat and Dividend Announcement

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After the market closed on Thursday, Alphabet, the parent company of Google, surpassed analyst expectations in its first-quarter earnings report. Google posted earnings of $1.89 per share, a remarkable 61% increase from last year, as well as gross revenue surging by 15% to reach $80.54 billion. This outperformed analyst projections of $1.51 per share on revenue of $78.7 billion. Additionally, Alphabet announced its first-ever dividend, which propelled Google stock to soar by over 13% in extended trading in the minutes following the report. As reported by Reinhardt Krause, Investors Business Daily author, “Google said its first quarterly dividend will be 20 cents.”

Google's revenue is derived from several profitable ventures, each of which has seen year-over-year increases. Advertising revenue saw a robust 13% growth to $61.66 billion with YouTube ad revenue experiencing a notable 21% rise to $8.1 billion. Additionally, the company's cloud-computing segment demonstrated strong performance, with revenue climbing by 28% to $9.574 billion, well-surpassing expectations. Another positive sign for investors is Alphabet’s announcement of a substantial $70 billion stock buyback program, indicating confidence in its financial position and future growth prospects. Overall, Alphabet's stellar financial results underscore its resilience and continued success across its diverse portfolio of digital services and products.

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