share_log

8-K: Alphabet Announces First Quarter 2024 Results

SEC announcement ·  Apr 26 04:08
Summary by Futu AI
On April 25, 2024, Alphabet Inc. released its financial results for the first quarter of the year, ending March 31, 2024. The report highlighted a 15% year-over-year increase in revenues to $80.5 billion and an expansion of the operating margin to 32%. Alphabet's CEO, Sundar Pichai, attributed the strong performance to robust growth in Search, YouTube, and Cloud services. The company also announced the initiation of a cash dividend program, declaring a dividend of $0.20 per share to be paid on June 17, 2024, to shareholders of record as of June 10, 2024. Additionally, Alphabet's Board of Directors authorized a stock repurchase program of up to $70.0 billion of its Class A and Class C shares. The financial report included a reconciliation of non-GAAP financial measures to GAAP measures, emphasizing the company's commitment to transparency. Alphabet's financial strength was further demonstrated by a decrease in severance and related charges compared to the previous year and a solid cash position with $24.5 billion in cash and cash equivalents as of March 31, 2024.
On April 25, 2024, Alphabet Inc. released its financial results for the first quarter of the year, ending March 31, 2024. The report highlighted a 15% year-over-year increase in revenues to $80.5 billion and an expansion of the operating margin to 32%. Alphabet's CEO, Sundar Pichai, attributed the strong performance to robust growth in Search, YouTube, and Cloud services. The company also announced the initiation of a cash dividend program, declaring a dividend of $0.20 per share to be paid on June 17, 2024, to shareholders of record as of June 10, 2024. Additionally, Alphabet's Board of Directors authorized a stock repurchase program of up to $70.0 billion of its Class A and Class C shares. The financial report included a reconciliation of non-GAAP financial measures to GAAP measures, emphasizing the company's commitment to transparency. Alphabet's financial strength was further demonstrated by a decrease in severance and related charges compared to the previous year and a solid cash position with $24.5 billion in cash and cash equivalents as of March 31, 2024.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.