Alphabet Shares Jump 14% On Earnings Beat, First-Ever Dividend

Alphabet has reported first quarter results that topped analysts' estimates with soaring profits in its cloud division. It also announced its first-ever dividend. CNBC shares the results: Earnings per share: $1.89 vs. $1.51 per share expected by LSEGRevenue: $80.54 billion vs. $78.59 billion expected by LSEG Wall Street is also watching several other numbers in the report: YouTube advertising revenue: $8.09 billion vs. $7.72 billion expected, according to StreetAccount.Google Cloud revenue: $9.57 billion vs. $9.35 billion expected, according to StreetAccount.Traffic acquisition costs (TAC): $12.95 billion $12.74 billion expected, according to StreetAccount. Alphabet's revenue increased 15% from $69.79 billion a year earlier, the fastest rate of growth since early 2022. Alphabet said its board approved a cash dividend of 20 cents per share to be paid on June 17, to stockholders of record as of June 10. The company said it "intends to pay quarterly cash dividends in the future."

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