Company news: Alphabet's (GOOG) quarterly results beat analysts’ forecasts

Alphabet (GOOG) reported Q1 FY2024 earnings of $1.89 per share (versus $1.17 per share in Q1 FY2023), beating analysts’ consensus estimate of $1.51 per share.

The company’s quarterly revenues amounted to $80.539 bln (+15.4% y/y), beating analysts’ consensus estimate of $78.746 bln.

The company also approved the initiation of a cash dividend program and declared a cash dividend of $0.20/share on each of its Class A, Class B, and Class C shares. In addition, Alphabet authorised the repurchase of up to an additional $70.0 bln. of its Class A and Class C shares.

GOOG rose to $176.16 (+11.53%) in pre-market trading.

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