Revenue was €75 billion for the quarter ended March 31st, beating estimates
Alphabet announced its first-ever dividend of 20 cents per share on Thursday, returning capital when the Google parent is spending billions of dollars on data centres to catch up with rivals on generative artificial intelligence. Alphabet also said it had authorised the repurchase of up to an additional $70 billion of its class A and Class C shares.
It also beat Wall Street estimates for first-quarter revenue on Thursday, powered by rising demand for its cloud services on the back of increasing adoption of artificial intelligence and steady advertising spending.Revenue was $80.54 billion for the quarter ended March 31st, compared with estimates of $78.59 billion, according to LSEG data.
Meanwhile, Google Cloud revenue grew 28 per cent in the first quarter, boosted by a boom in generative AI tools that rely on cloud services to deliver the technology to customers. Google’s cloud services are attractive for venture-capital backed start-ups developing generative AI technologies due to its pricing and ease of integration with other tools, investors and experts have previously said. – Reuters‘I’m alone pretty much all the time. The older I become, the less hopeful I am this will change’
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