Alphabet's stock surged 10% to its all-time high on April 26 after the tech giant posted its first quarter earnings report, with revenue rising 15% year over year to $80.54 billion and EPS increasing by 62% to $1.89. The company also announced a new $70 billion buyback plan and initiated a quarterly dividend of $0.20 per share, impressing investors.
Alphabet's core businesses, such as Google's advertising, subscriptions, platforms, and devices, have been reaccelerating over the past year. The growth of YouTube and search-based ads helped offset declines in the advertising network revenues. Moreover, Google's subscriptions, platforms, and devices segment saw substantial growth, with YouTube Premium, Music, and Google One reaching significant numbers of paid subscribers.
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