(Reuters) – Alphabet jumped at the opening on the New York Stock Exchange on Friday, surpassing the $2,000 billion mark in market capitalization for the first time since November 2021, after announcing on Thursday the payment of its first dividend and a buyback action of 70 billion dollars.
At 2:10 p.m. GMT, the stock rose 11% to $173.16, and hit a record for the session at $174.71. The S&P 500 rose at the same time by 1.02%.
Google’s parent company announced Thursday that it would pay dividends of 20 cents per share.
Furthermore, turnover, profit and advertising revenue in the first quarter exceeded consensus.
“Google’s search model has been constantly criticized for the impact that artificial intelligence would have (…) and the group had to publish perfect figures, otherwise it would be penalized again. The figures have been perfect. Breathe,” write the Bernstein analysts.
(Written by Medha Singh in Bangalore, French version Corentin Chappron, edited by Kate Entringer)
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