Alphabet (Google) stocks jumped on Wall Street after the release of better-than-expected data. The rise in shares exceeded 12% and brought the group’s capitalization above 2 trillion dollars. In the first quarter of 2024 the company’s revenues amounted to 67.6 billion and earnings per share were […]
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Leap of Alphabet (Google) stocks on Wall Street after the release of better-than-expected data. The rise in shares exceeded 12% and brought the group capitalization above 2 trillion dollars. In the first quarter of 2024 the company’s revenues were equal to 67.6 billion and earnings per share were $1.89 compared to analysts’ estimates of $1.53. The company also said it will pay a dividend of 20 cents per share, the first in its history (it is unusual for technology companies to pay dividends because they tend to push the value of the stock with greater investments in research). Alphabet will also buy back $70 billion in sharesanother way to boost stock value and earnings per shares (to which management bonuses are often also anchored).
The investments made in the sector also drive revenues development of artificial intelligencea strategy he helped spur demand for its cloud services, with an increase in revenue of 28%. Google remains third in the cloud computing market, behind Amazon and Microsoft, but analysts say advances in artificial intelligence could help the company narrow the gap. Revenues deriving from online advertising they increased by 14% to $46.2 billion, above forecasts. The subsidiary YouTube had a turnover of 8.1 billion dollars, also in this case more than expectations. The rise in shares continues Microsoft (+ 2.4%). The group released quarterly data on Thursday, with revenues up 17% to 61.9 billion dollars, above analysts’ expectations. Earnings per share stood at $2.94. Also on the rise Amazon and especially, Snap (+22%) after the good results announced on Thursday.
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