Companies
Alphabet beats revenue estimates as AI fuels cloud growth
The Google parent company said it would pay a dividend of 20 cents a share, its first ever, and repurchase an additional $70 billion in stock
Alphabet reported first-quarter revenue that exceeded analysts’ expectations, buoyed by growth in its cloud computing unit.
The Google parent generated sales, excluding partner payouts, of $67.6 billion for the three months that ended on March 31, surpassing the $66.1 billion expected on average by analysts, according to data compiled by Bloomberg. Net income was $1.89 per share, compared with Wall Street’s estimate of $1.53 per share.
The company also said it would pay a dividend ...