2 weeks Ago By David Streitfeld
Google might be threatened with a breakup after , but in the meantime it can console itself with piles of money. Alphabet, Google’s parent company, on Thursday revenue of $90.23 billion for the first quarter, up 12 percent from a year earlier.
Net income was $34.54 billion, up from $23.66 billion.
Earnings per share were $2.81. The revenue was more or less what analysts had expected, but the bottom line was considerably better.
Analysts had projected revenue of $89.15 billion for the quarter, with earnings per share of $2.02.
Sundar Pichai, Google’s chief executive, said in a statement that the impressive results “reflect healthy growth and momentum across the business.” The Mountain View, Calif., company also said it was raising its dividend 5 percent and authorized a $70 billion stock buyback.
The stock, which had puttered modestly upward before the earnings release, rose in after-hours trading. For Google, the year had been off to a bad start, with its shares at one point down about 25 percent. One reason was the economic turmoil induced by President Trump’s zeal for tariffs.
The Chinese e-commerce companies , for example, are significant advertisers on Google. With a trade war blossoming between China and the United States, they are buying fewer ads. We are having trouble retrieving the article content.
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