Alphabet's stocks soar following impressive earnings report
Kicking It Up a Notch: Alphabet's Booming Business
Alphabet, the legendary mothership of Google, unveiled its first quarter financials last Thursday, leaving analysts slack-jawed and investors grinning ear to ear. This tech titan blowtorch-ed past financial forecasts, sending shares skyrocketing during after-hours trading.
Alphabet's Big Leagues Performance 24.04.24 - 24.04.25 📈 1T 📉 1W 📈 1M 📈 1J 🚀 3J 💸
Wall Street squinted hard, expecting revenues of a mere $89.1 billion and earnings of $2.01 per share. But guess who wasn't playing peek-a-boo? Alphabet raised the bar, recording a whopping $90.2 billion in revenue between January and March. Net earnings per share striking gold at $2.81.
The key segments of YouTube and Google Cloud played their part in meeting expectations. Alphabet further delighted investors with the announcement that it would boost its dividend.
This number crunching left a significant after-hours stock surge. The stock gained 2.37% during regular trading, but whoa-didi, it climbed another 5.2% in after-hours trading.
Facing Down Setbacks with a Smile
This boost at least partially offsets some recent setbacks. Alphabet's stock has been taking punches due to the mixed market sentiment in the US and uncertainties surrounding AI race.
News that Chinese startup Deepseek managed to create an AI on par with Western models using a fraction of resources and power sent shockwaves through the market, particularly beneficiaries like Alphabet with its Gemini AI model.
Since the start of the year, Alphabet's stock took a dive of around 20%, almost double the decline in the Nasdaq 100, the finger on the pulse of the broader tech sector. Among the so-called "Magnificent Seven" tech stocks - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla - Alphabet sits smack-dab in the middle of the pack in terms of losses.
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Looking Ahead
Alphabet isn't sweating the small stuff. With its sights set on AI and Cloud growth, the future's looking pretty slick for this stock powerhouse. Stay tuned for more updates!
[1] Daily Financial Markets[2] Google Finance[3] Alphabet Investor Information[4] Analyst Ratings
- The first quarter financials presented by Alphabet surpassed expectations, with revenues reaching $90.2 billion and net earnings per share at $2.81.
- The key segments of YouTube and Google Cloud met expectations, and Alphabet further announced an increase in its dividend.
- This exceptional performance led to a significant after-hours stock surge, with the stock gaining 2.37% during regular trading and an additional 5.2% in after-hours trading.
- Despite recent setbacks, such as the news of Chinese startup Deepseek creating an AI on par with Western models using less resources, Alphabet remains optimistic about AI and Cloud growth and seems poised for a bright future.
