Google’s parent company Alphabet exceeded analysts’ expectations in its first-quarter results, driving shares up by about 10 percent in morning trading on Friday.that the tech giant reported earnings per share of $1.89, surpassing the expected $1.51, and revenue of $80.54 billion, beating the anticipated $78.59 billion. This marks the fastest rate of growth for Google since early 2022, with revenue increasing by 15 percent compared to the previous year’s $69.79 billion.
Sundar Pichai, CEO of Google, speaks at Google’s annual developer conference, Google I/O, in San Francisco on 28 June 2012 Furthermore, Google’s board authorized the repurchase of an additional $70 billion in shares, showcasing the company’s confidence in its future growth and financial stability. The company closed the quarter with cash, equivalents, and marketable securities of $108 billion, slightly down from $110.9 billion a year earlier.