Google’s parent company Alphabet Inc. reported impressive financial results for the first quarter of 2024, surpassing analysts’ expectations. Despite the ongoing challenges faced by the tech industry, Alphabet’s revenue soared to $76.8 billion, a 14% increase compared to the same period last year. This remarkable performance was driven by robust growth in Google’s advertising business and the continued success of its cloud computing services. Notably, Alphabet also announced its first-ever quarterly cash dividend of $1.25 per share, a move aimed at rewarding shareholders and signaling confidence in the company’s future prospects. Analysts praised Alphabet’s ability to navigate the tech downturn, attributing its success to its diversified revenue streams and strategic investments in emerging technologies. The company’s CEO expressed optimism about the future, highlighting plans to further enhance user experiences and explore new avenues for growth. With its strong financial position and innovative spirit, Alphabet appears well-positioned to maintain its leadership in the tech industry.
Source: https://www.cnn.com/2024/04/25/tech/google-tech-earnings-dividend/index.html