US EditionGoogle parent Alphabet beats quarterly revenue estimates
- Alphabet released its first-quarter earnings report Thursday afternoon.
- The company achieved these results despite facing competitive, legal, and economic challenges including trade war impacts.
- Investment in artificial intelligence infrastructure grew, and the company announced a significant stock repurchase and dividend increase.
- Net income surged 46 percent to $34.5 billion as revenue rose 12 percent to $90.2 billion, exceeding estimates.
- The robust results boosted shares in after-hours trading, demonstrating search and cloud strength.
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Rosenblatt Securities Cuts Alphabet (NASDAQ:GOOGL) Price Target to $189.00
Alphabet (NASDAQ:GOOGL – Free Report) had its price objective decreased by Rosenblatt Securities from $205.00 to $189.00 in a report published on Friday, Marketbeat.com reports. Rosenblatt Securities currently has a neutral rating on the information services provider’s stock. A number of other research analysts have also weighed in on GOOGL. Citigroup dropped their price target on shares of Alphabet from $229.00 to $195.00 and set a “buy” rating…
AI search wars? Google still dominates as Alphabet’s revenue jumps 46% to $90 billion - Tech Startups
Despite mounting fears that AI-powered search engines could erode Google’s dominance, Alphabet crushed expectations in Q1 and delivered a resounding message: the empire is still standing strong. In its latest quarter, Alphabet stunned Wall Street with a 46% profit spike […] The post AI search wars? Google still dominates as Alphabet’s revenue jumps 46% to $90 billion first appeared on Tech Startups.
A good 34 billion dollars in profit and 90 billion dollars in sales: The Alphabet Group is doing well. The cloud is growing above average, but the advertising business remains the most important source of revenue.
The Google parent company Alphabet significantly exceeded expectations in the first quarter with a strong increase in profit. The Group from Mountain View in California reported a net profit of 34.5 billion dollars (30.4 billion euros) on Thursday, 46 percent more than in the previous year's quarter and one of the highest quarterly profits ever reported by a listed company. According to Alphabet, sales increased by 12 percent to 90.2 billion dol…
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