https://www.cnbc.com/2024/04/25/alphabet-set-to-report-first-quarter-results-after-market-close.html Skip Navigation logo * watchlive logo Markets * Pre-Markets * U.S. Markets * Currencies * Cryptocurrency * Futures & Commodities * Bonds * Funds & ETFs Business * Economy * Finance * Health & Science * Media * Real Estate * Energy * Climate * Transportation * Industrials * Retail * Wealth * Sports * Life * Small Business Investing * Personal Finance * Fintech * Financial Advisors * Options Action * ETF Street * Buffett Archive * Earnings * Trader Talk Tech * Cybersecurity * Enterprise * Internet * Media * Mobile * Social Media * CNBC Disruptor 50 * Tech Guide Politics * White House * Policy * Defense * Congress * Equity and Opportunity CNBC TV * Live TV * Live Audio * Business Day Shows * Entertainment Shows * Full Episodes * Latest Video * Top Video * CEO Interviews * CNBC Documentaries * CNBC Podcasts * CNBC World * Digital Originals * Live TV Schedule Watchlist Investing Club * Trust Portfolio * Analysis * Trade Alerts * Meeting Videos * Homestretch * Jim's Columns * Education * Subscribe * Sign In PRO * Pro News * Pro Live * Full Episodes * Stock Screener * Market Forecast * Options Investing * Chart Investing * Subscribe * Sign In Menu * Make It * select + ALL SELECT + Credit Cards + Loans + Banking + Mortgages + Insurance + Credit Monitoring + Personal Finance + Small Business + Taxes + Help for Low Credit Scores + Investing + SELECT + All Credit Cards + Find the Credit Card for You + Best Credit Cards + Best Rewards Credit Cards + Best Travel Credit Cards + Best 0% APR Credit Cards + Best Balance Transfer Credit Cards + Best Cash Back Credit Cards + Best Credit Card Welcome Bonuses + Best Credit Cards to Build Credit + SELECT + All Loans + Find the Best Personal Loan for You + Best Personal Loans + Best Debt Consolidation Loans + Best Loans to Refinance Credit Card Debt + Best Loans with Fast Funding + Best Small Personal Loans + Best Large Personal Loans + Best Personal Loans to Apply Online + Best Student Loan Refinance + SELECT + All Banking + Find the Savings Account for You + Best High Yield Savings Accounts + Best Big Bank Savings Accounts + Best Big Bank Checking Accounts + Best No Fee Checking Accounts + No Overdraft Fee Checking Accounts + Best Checking Account Bonuses + Best Money Market Accounts + Best CDs + Best Credit Unions + SELECT + All Mortgages + Best Mortgages + Best Mortgages for Small Down Payment + Best Mortgages for No Down Payment + Best Mortgages with No Origination Fee + Best Mortgages for Average Credit Score + Adjustable Rate Mortgages + Affording a Mortgage + SELECT + All Insurance + Best Life Insurance + Best Homeowners Insurance + Best Renters Insurance + Best Car Insurance + Travel Insurance + SELECT + All Credit Monitoring + Best Credit Monitoring Services + Best Identity Theft Protection + How to Boost Your Credit Score + Credit Repair Services + SELECT + All Personal Finance + Best Budgeting Apps + Best Expense Tracker Apps + Best Money Transfer Apps + Best Resale Apps and Sites + Buy Now Pay Later (BNPL) Apps + Best Debt Relief + SELECT + All Small Business + Best Small Business Savings Accounts + Best Small Business Checking Accounts + Best Credit Cards for Small Business + Best Small Business Loans + Best Tax Software for Small Business + SELECT + All Taxes + Filing For Free + Best Tax Software + Best Tax Software for Small Businesses + Tax Refunds + Tax Brackets + Tax Tips + Tax By State + Tax Payment Plans + SELECT + All Help for Low Credit Scores + Best Credit Cards for Bad Credit + Best Personal Loans for Bad Credit + Best Debt Consolidation Loans for Bad Credit + Personal Loans if You Don't Have Credit + Best Credit Cards for Building Credit + Personal Loans for 580 Credit Score or Lower + Personal Loans for 670 Credit Score or Lower + Best Mortgages for Bad Credit + Best Hardship Loans + How to Boost Your Credit Score + SELECT + All Investing + Best IRA Accounts + Best Roth IRA Accounts + Best Investing Apps + Best Free Stock Trading Platforms + Best Robo-Advisors + Index Funds + Mutual Funds + ETFs + Bonds * USA * INTL * watchlive Search quotes, news & videos Watchlist SIGN IN logo Markets Business Investing Tech Politics CNBC TV Watchlist Investing Club PRO Menu Tech Alphabet shares jump 14% on earnings beat, first-ever dividend Published Thu, Apr 25 202412:01 PM EDTUpdated Moments Ago thumbnail Jennifer Elias@jenn_elias WATCH LIVE Key Points * Alphabet beat on earnings and revenue in its first-quarter results. * Revenue increased 15% from a year earlier, the fastest rate of growth since early 2022. * The company also announced its first dividend and a $70 billion buyback. In this article * GOOGL Follow your favorite stocksCREATE FREE ACCOUNT Sundar Pichai, CEO, Alphabet Source: Google Alphabet shares rallied in extended trading on Thursday after the company reported results that topped analysts' estimates, showed soaring profits in its cloud division and announced its first dividend. The after-hours jump lifted Alphabet's market cap past $2 trillion. Here are the results. * Earnings per share: $1.89 vs. $1.51 per share expected by LSEG * Revenue: $80.54 billion vs. $78.59 billion expected by LSEG Wall Street is also watching several other numbers in the report: * YouTube advertising revenue: $8.09 billion vs. $7.72 billion expected, according to StreetAccount. * Google Cloud revenue: $9.57 billion vs. $9.35 billion expected, according to StreetAccount. * Traffic acquisition costs (TAC): $12.95 billion $12.74 billion expected, according to StreetAccount. Alphabet's revenue increased 15% from $69.79 billion a year earlier, the fastest rate of growth since early 2022. Alphabet said its board approved a cash dividend of 20 cents per share to be paid on June 17, to stockholders of record as of June 10. The company said it "intends to pay quarterly cash dividends in the future." Alphabet's dividend follows Meta, which announced its first dividend in February. The company also said its board authorized the repurchase of an additional $70 billion in shares "in a manner deemed in the best interest of the company and its stockholders." Alphabet closed the quarter with cash, equivalents and marketable securities of $108 billion, down slightly from $110.9 billion a year earlier. Net income jumped 57% to $23.66 billion, or $1.89 a share, from $15.05 billion, or $1.17 a share, a year earlier. The company also beat Wall Street's expectations for YouTube advertising revenue and cloud revenue. Google reported total ad sales of $61.66 billion -- up from $54.55 billion a year ago. Google's core advertising business is reaccelerating after a difficult 2022 and 2023, when rising interest rates and inflationary concerns forced brands to pull back their spending. Operating income in Google's cloud business more than quadrupled to $900 million, showing that the company is finally generating substantial profits after pouring money into the business for years to keep up with Amazon Web Services and Microsoft Azure. The company has been investing heavily in artificial intelligence, adding generative AI features to search and other services to ensure that consumers continue using Google tools even as the way they seek information online changes. "Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation," CEO Sundar Pichai said in the earnings release. This is breaking news. Check back for updates. 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