Alphabet Q1 2024: Impeccable Earnings Report, GCP Accelerates from AI

Alphabet’s revenue accelerated for the sixth consecutive quarter. Revenue grew by 15% and clocked the fastest growth since Q1 2022. Google Cloud revenue accelerated for the second consecutive quarter. The company also announced its first dividend and authorized a new $70 billion share repurchase plan. The margin improvement due to the cost reduction initiatives was the icing on the cake. The shares closed 10% higher following strong results and reached the $2 trillion market capitalization milestone.

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