<p>Shares in Google parent company Alphabet surged 10% on Friday and broke the $2 trillion market cap level. The company is now worth $2.15 trillion after shares hit an all-time high following its first quarter earnings announcement.</p>
<p>Alphabet also announced it will pay a dividend for the first time ever. The company&#8217;s Board of Directors approved a cash dividend of $0.20 per share that will be paid on June 17, 2024, to stockholders of record as of June 10, 2024, on each of the company’s Class A, Class B, and Class C shares. The company says it intends to pay quarterly cash dividends in the future, subject to review and approval by the company’s Board of Directors in its sole discretion.</p>
<p>The company will also buy back up to $70 billion in Class A and C stock, adding to the stock surge Friday.</p>
<p>Alphabet reported first quarter revenues of $80.5 billion, a 15% increase from a year ago. Google and YouTube advertising accounted for $61.6 billion of total revenues. Net income was $23.6 billion.</p>
<p>Sundar Pichai, CEO of Alphabet, said: “Our results in the first quarter reflect strong performance from Search, YouTube and Cloud. We are well under way with our Gemini era and there’s great momentum across the company. Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation.”</p>
<p>Ruth Porat, President and Chief Investment Officer; CFO said: “Our strong financial results for the first quarter reflect revenue strength across the company and ongoing efforts to durably reengineer our cost base. We delivered revenues of $80.5 billion, up 15% year-on-year, and operating margin expansion.”</p>
<p> ;</p>

MOUNTAIN VIEW -- ALM Ventures has announced the launch of ALM Ventures Fund I, a…
SAN FRANCISCO -- Brainworks Ventures, an AI-native venture capital fund led by DARPA alumnus Dr.…
OpenAI is hiring Slack CEO Denise Dresser as the company's Chief Revenue Officer, overseeing global…
The Santa Clara County District Attorney’s Office has charged a San Jose 17-year-old with attempted…
SANTA CLARA — Lemurian Labs has secured $28 million in an oversubscribed Series A round,…
EMERYVILLE -- Ripple Foods, a producer of high-protein, allergen-free plant-based milks, has landed $17 million in…