Alphabet to pay the first dividend in the company’s history after a successful start to the year

Alphabet will pay the first dividend in its history after a successful first quarter of 2024. The company also announced a $70 billion share buyback. This was reported by Reuters.

In January-March of this year, Alphabet, the parent company of Google, received revenue of $80.54 billion. At the same time, analysts had forecast the figure at $78.59 billion.

At the same time, the company’s net profit in the first quarter of this year reached almost $23.7 billion. According to the company, it will now pay dividends of 20 cents per share.

“Alphabet’s announced dividend payouts and buybacks on top of the solid earnings beat are not only a breath of fresh air for the tech market as a whole, but also a very intelligent strategy for the search engine giant going into a tough time of the year,” said Thomas Monteiro, senior analyst at Investing.com.

As a reminder, in the first quarter of last year, Alphabet’s revenue amounted to $69.8 billion and net profit was $15.1 billion.