Alphabet (GOOGL) Beats Revenue Estimates, Pays Dividend; Stock Jumps

Alphabet Inc., Google's parent company, reported first-quarter revenue that surpassed analysts' expectations, largely due to growth in its cloud computing unit. The company generated sales, excluding partner payouts, of $67.6 billion for the quarter ending March 31, exceeding the expected $66.1 billion average.

The company's net income was $1.89 per share, which was also higher than Wall Street's estimate of $1.53 per share. The data was compiled by Bloomberg.

Key takeaways

Alphabet Inc.'s first-quarter revenue exceeded analysts' expectations.
The growth was driven by its cloud computing unit.
The company generated sales of $67.6 billion, surpassing the expected $66.1 billion.
Net income was $1.89 per share, higher than Wall Street's estimate of $1.53 per share.

Alphabet (GOOGL) Beats Revenue Estimates, Pays Dividend; Stock Jumps

Key takeaways

Discussion (0)