Google parent reports another quarter of robust growth, rolls out first

Release time：2024-05-21 06:46:59 Source：Cultural Compass news portal

Google’s corporate parent Alphabet Inc. 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.

Alphabet punctuated its renewed vigor by also disclosing plans to begin paying shareholders a quarterly dividend for the first time since since Google went public 20 years ago. It’s something that two older technology powerhouses, Microsoft and Apple, have been doing for years. Alphabet’s quarterly dividend of 20 cents per share will be paid June 17.

Investing.com analyst Thomas Monteiro praised the decision to pay a dividend as “a breath of fresh air for the tech market” that should also make investors more likely to support the increased amounts that Google will likely need to spend on developing AI products that could take years to pay off.

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