Alphabet earnings – EPS – $1.89, Revenue – $80.54b. Announces dividend and $70b buyback

https://www.cnbc.com/2024/04/25/alphabet-set-to-report-first-quarter-results-after-market-close.html

Alphabet
reported earnings after the bell. Here are the results.

Earnings per share: $1.89. That may not compare with the $1.51 per share expected by LSEG
Revenue: $80.54 billion. That may not compare with the $78.59 billion expected by LSEG

Wall Street is also watching several other numbers in the report:

YouTube advertising revenue: $7.72 billion expected, according to StreetAccount
Google Cloud revenue: $9.35 billion expected, according to StreetAccount
Traffic acquisition costs (TAC): $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.”

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.”

The company also beat Wall Street’s expectations for YouTube advertising revenue and cloud revenue.