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Google owner Alphabet is doing better than expected

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Growth in advertising sales on both Google and YouTube contributed to parent company Alphabet exceeding expectations in the first quarter. Illustration photo: Jeff Chiu / AP / NTB

Of NTB | 26.04.2024 00:32:17

Economy and business: The IT giant ended the first three months of the year with a profit of 23.7 billion dollars, which corresponds to just under 260 billion kroner at today’s exchange rate. The turnover was 80.5 billion dollars, a little above investors’ expectations of 78.59 billion.

Advertising sales on Google brought in NOK 61.7 billion in the first quarter of this year, compared to NOK 54.5 billion in the same period last year. YouTube ad sales increased from 6.7 to 8 billion. Alphabet’s cloud services increased revenue from $7.5 billion to $9.5 billion.

At the same time, the company announced that for the first time it will pay a dividend to the owners, who will receive 20 cents – NOK 2.19 – per share.

The figures were well received by the market, which sent the share price up just over 16 per cent in after-market trading on Thursday evening.

(© NTB)

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