From Nasdaq: 2024-04-26 11:27:00

Alphabet’s (GOOGL) first-quarter earnings beat estimates with $1.89 per share, a 26.85% increase. Revenues reached $67.59 billion, up 16.4% YoY, leading to a 28.34% increase in operating income to $27.89 billion. Google advertising revenue rose to $61.66 billion, and YouTube ad revenue hit $8.09 billion. Cloud business operating income quadrupled to $900 million.

Alphabet’s post-earnings surge pushed market cap above $2 trillion. Shares soared 11.5% after hours. A cash dividend of $0.20 per share was approved. Top ETFs with heavy Alphabet exposure include IXP, XLC, VOX, and FCOM, each showing gains over the past year. Investors are recommended to receive Zacks’ Fund Newsletter for updates.



Read more at Nasdaq: Google Heavy ETFs Surge Following Upbeat Q1 Earnings