Alphabet tempers fears that it's falling behind in AI with blowout first-quarter results
Publishing timestamp: 2024-04-25 20:35:40
Summary
Alphabet's strong first-quarter results showed growth in ad sales and managing costs in AI simultaneously. Revenue climbed 15%, profit in cloud business more than quadrupled, and after-market stock rally lifted Alphabet's market cap past $2 trillion. Ad sales at YouTube jumped 20%, beating expectations. The company is confident in its financial position, announcing its first-ever quarterly dividend and plan to repurchase additional $70 billion in stock.
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Keywords: internet, amazon.com inc, alphabet inc, alphabet class c, business news, technology, microsoft corp, meta platforms inc, mark zuckerberg, nvidia corp, google, breaking news: technology, snap inc,