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Alphabet stock surges 11% on blowout earnings and first dividend for Google owner [Yahoo! Finance]
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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US:NASDAQ Investor Relations: abc.xyz/investor
The S&P 500 and Nasdaq 100 were set to open higher thanks to the Big Tech giants' strong results. Alphabet stock surged ahead of Friday's opening bell as investors cheered the Google owner's blowout first-quarter earnings Shares were up 11% to almost $174 shortly before 5 a.m. ET. If those gains hold until the opening bell, its valuation will top $2 trillion for the first time. The stock climbed higher after Alphabet posted earnings for the three months to March 31 after Thursday's close with profits and revenue that both smashed analysts' forecasts. The announcement that it would follow the lead of rivals including Microsoft, Apple, and Meta by issuing its first dividend also served as a green light for the market. "Alphabet joining the ranks of tech companies paying dividends is a sign of the times," AJ Bell investment director Russ Mould said. "Big tech firms have enjoyed stellar growth over the past decade and while most remain highly innovative, their cash flows have b
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