Alphabet, the parent company of Google, made a major announcement on Thursday: it will be paying out a dividend of 20 cents per share for the first time. This news came after trading hours and followed a successful past quarter where Alphabet saw an increase in turnover and profit.
During the past quarter, Alphabet’s revenue increased by 15 percent year on year to $80.5 billion, surpassing analyst expectations. The company’s profit also rose to $23.7 billion, compared to $15 billion the previous year. Advertising revenue remains a key income source for the company, with YouTube contributing significantly to revenue growth.
In addition to its advertising efforts, Alphabet’s cloud activities performed well in the first quarter, with an operating profit of $900 million. This was a substantial increase from previous periods and exceeded analyst expectations.
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