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  • Writer's pictureRealFacts Editorial Team

Google Crushes Earnings and Announces First Ever Dividend

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Google reported first quarter earnings this week and it's safe to say that the company did not disappoint. Eric J. Savitz of Barron’s broke down the key numbers, “For the March quarter, Alphabet posted revenue of $80.5 billion with profits of $1.89 a share, topping Street estimates of $78.7 billion and $1.51 a share. “Google Search and other” ad revenue was $46.2 billion—above estimates of $45 billion. Google Cloud revenue of $9.6 billion was up 28%, and ahead of the Street consensus at $9.4 billion.” Overall revenue was up 13% from last year, search revenue was up 11.4%, and YouTube revenue was up 15.3%. This was an absolutely dominant performance by Google for the first quarter, investors were pleased to see that search and YouTube revenue beat expectations, this sent the stock price soaring. The one thing that the market is still anxious to see is if Google’s Gemini AI program can be effectively monetized by the company.

The other major development from Google’s report was that they announced their first ever dividend of 20 cents. They now join Meta as the tech companies to announce a new dividend. The market reacted very positively to this announcement, dividends tend to be a huge selling point for investors as well as showing that the company is having extremely strong positive cash flows.

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