Alphabet, the parent company of Google, has reported its first quarter financial results for 2024, with total revenue amounting to $80.539 billion, up by 15% compared to the same quarter in the previous year. The company also achieved a net profit of $23.662 billion.
Specific revenue figures of interest include:
– Revenue from YouTube ads: $8.090 billion, a 21% increase
– Revenue from Google Cloud: $9.574 billion, a 28% increase, with a specific profit of $900 million
– Revenue from Subscriptions, Platforms, and Hardware: $8.739 billion, an 18% increase
– Traffic Acquisition Cost: $12.946 billion, a 10% increase
In addition, Alphabet has announced its first-ever dividend payout to shareholders, amounting to $0.20 per share for holders of Class A-B-C shares. The company plans to continue this dividend payout every quarter and has also declared a share buyback plan with a maximum budget of $70 billion.
TLDR: Alphabet, Google’s parent company, reported a 15% increase in total revenue for the first quarter of 2024, with specific revenue growth in various segments. They also announced a dividend payout to shareholders and a share buyback plan.
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