Google parent reports another quarter of accelerating growth and its stock price soars
Google’s corporate parent Alphabet Inc. has released a quarterly report showing it’s still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence
Google’s corporate parent Alphabet Inc. (GOOG) on Thursday released a quarterly report showing it’s still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence.
The results for the first three months of the year provided the latest evidence that Google has regained its momentum after an unprecedented downturn in 2022 coming out of the pandemic.
In the January-March period, Alphabet’s revenue rose 15% from the same time last year to $80.54 billion, which surpassed the projections of analysts surveyed by FactSet Research. It marked the fourth consecutive quarter of accelerating year-over-year revenue growth for the Mountain View, California, company.
Alphabet earned $23.66 billion, or $1.89 per share, a 57% increase from last year's comparable quarter. The earnings per share also eclipsed the analyst estimates that steer investors.
