Our interest is in the non-voting class C shares, the GOOG, which ended the after-hours session up 7%.*
From CNBC, April 24:
- Alphabet reported revenue of $90.23 billion and earnings per share of $2.81.
- The company’s shares rose as much as 4% on stronger-than-expected revenue growth.
- Alphabet’s search and advertising units are still showing strong growth despite AI competition heating up, according to its first-quarter earnings report.
Alphabet, the parent company of Google and YouTube, reported stronger-than-expected first-quarter growth on Thursday after the bell. Shares rose more than 5% in after-hours trading.
Here’s how the company did, compared with estimates from analysts polled by LSEG:
- Revenue: $90.23 billion vs. $89.12 billion, estimated
- Earnings per share: $2.81 vs. $2.01, estimated
Wall Street is also watching several other numbers in the report:
- YouTube advertising revenue: $8.93 billion versus $8.97 billion, according to StreetAccount
- Google Cloud revenue: $12.26 billion versus $12.27 billion, according to StreetAccount
- Traffic acquisition costs (TAC): $13.75 billion versus $13.66 billion, according to StreetAccount
Alphabet’s search and advertising units are still showing strong growth despite AI competition heating up, according to its first-quarter earnings report.
The company’s overall revenue grew 12% year-over-year, higher than the 10% Wall Street expected.
Google’s YouTube advertising revenue came in just short of analyst expectations at $8.93 billion. Overall advertising brought in $66.89 billion, up 8.5% from the year prior....
