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Google parent Alphabet announces first-ever dividend of 20 cents per share [Globe and Mail, The (Toronto, Canada)]
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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US:NASDAQ Investor Relations: abc.xyz/investor
Google parent is spending billions of dollars on data centres to catch up with rivals on generative artificial intelligence. Shares of the company rose nearly 13% in trading after the bell. Alphabet also said it had authorized the repurchase of up to an additional $70 billion of its Class A and Class C shares. It also beat Wall Street estimates for first-quarter revenue on Thursday, powered by rising demand for its cloud services on the back of increasing adoption of artificial intelligence and steady advertising spending. Revenue was $80.54 billion for the quarter ended March 31, compared with estimates of $78.59 billion, according to LSEG data. Meanwhile, Google Cloud revenue grew 28% in the first quarter, boosted by a boom in generative AI tools that rely on cloud services to deliver the technology to customers. Google's cloud services are attractive for venture-capital backed startups developing generative AI technologies due to its pricing and ease of integration with
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