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Alphabet. Revenue and profit beat estimates, sending shares higher
A Alphabet, Google's parent company, announced a profit of $23.66 billion (around 22.052 billion euros) in the first quarter of 2024, a 57.21% year-on-year increase.
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This net income exceeded market expectations, as did the company's business volume, which increased by 15.4% compared to the same period last year and reached 80,539 million dollars (75 billion euros).
The 'online' search giant, which invests heavily in artificial intelligence (AI), surprised the New York Stock Exchange with the announcement of its first dividend payment of $0.20 per share.
With these results, the company's shares rose almost 13% in post-market trading.
In addition to revenue and overall profit growth, Google Cloud's (cloud services) performance and the increasing adoption of AI technology surprised investors.
Above all, the market was watching for signs that Google's investments in generative AI (the production of text, images and other content) are starting to bear fruit.
Read Also: Information leak reveals again Google's affordable mobile phone (Portuguese version)
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* Estudo da e Netsonda, nov. e dez. 2023 produtodoano- pt.com
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