Google soared over 11.5% before the market opened. Q1 revenue growth hit a two-year high, and it planned to pay quarterly dividends for the first time and make additional buybacks.

Gelonghui April 26 | Google A (GOOGL.US) U.S. stocks surged more than 11.5% before the market opened, to US$174.08. The stock price is expected to hit a record high after the opening.

Gelonghui, April 26 | Google A (GOOGL.US) U.S. stocks soared more than 11.5% before the market opened, at $174.08. The stock price is expected to hit a record high after the opening.
Alphabet\’s total revenue in the first quarter was US$80.54 billion, a year-on-year increase of 15%, the fastest growth since the beginning of 2022. It was higher than market expectations of US$79.04 billion.
Adjusted earnings per share were US$1.89, a year-on-year increase of 61.5%, exceeding expectations of US$1.53.
During the period, cloud business revenue increased by 28.4% year-on-year to US$9.57 billion. This was higher than analysts’ expectations of US$9.37 billion.
In addition, the board of directors approved the payment of a cash dividend of 20 cents per share for the first time in history. It also intends to continue paying quarterly cash dividends in the future. It also authorized the repurchase of an additional US$70 billion in shares.

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