One of the world’s most expensive companies, Alphabet (which owns Google), has announced that in 2024 first quarter financial report

In the first three months of this year, Alphabet recorded both revenue and net profit growth. The tech giant also announced its first dividend.

How Google’s parent company ended the first year of 2024 quarter

In total, Alphabet received 80.54 billion in the first quarter. dollars of revenue. This is more than 10 billion. dollars more than the company earned during the same period a year ago.

The US corporation had a net profit of 23.66 billion. dollars. Compared to the previous year, this indicator is from 15.05 billion. increased by 8.61 billion dollars. dollars. Earnings per share amounted to US$1.89.

Why will Alphabet start paying dividends?

The company “Alphabet” also announced that it will pay quarterly dividends of 20 cents per share for the first time in its history. It is planned to be done on June 17. The corporation was encouraged to take this step by the decision in February of Mark Zuckerberg’s company “Meta” to pay the first dividends.

In addition, the tech giant agreed to buy back additional shares of its Class A and Class C shares. 70 billion Google’s parent company is seeking to buy up $100,000 worth of securities.

What are dividends?

Dividends are a part of the profit paid to the company’s participants (shareholders) according to their share in the company’s authorized capital. In other words, dividends are the reward received by the owner of the respective shares.

The technology giant has set a new record

After the publication of the quarterly report, “Alphabet” shares rose by almost 16 percent. As a result, the capitalization of the corporation increased by 300 billion. and exceeded 2 trillion. dollar limit. Thus, Google’s parent company reached a historical market capitalization record.

Alphabet shares are currently trading at $158 per share. Securities fell by almost 2%. According to GlobalRanking, the tech giant’s current market capitalization is $1.95 trillion. Currently, “Alphabet” is among the top five most expensive companies in the world, occupying the 4th place.