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Google parent announces first-ever dividend; beats on sales, profit; shares soar

Economic Times

Economic Times · 1y ago

Google parent announces first-ever dividend; beats on sales, profit; shares soar

Alphabet, the parent company of Google, announced its first-ever dividend and a $70 billion stock buyback, resulting in a surge in stock price by nearly 16%. The company plans to return capital to investors while investing heavily in data centers and artificial intelligence. The dividend will be 20 cents per share. This move follows similar announcements by competitors such as Meta, formerly known as Facebook. Alphabet reported better-than-expected sales, profit, and advertising metrics for the quarter, increasing its stock market value by over $300 billion to exceed $2 trillion.

Related News

Google parent Alphabet beats quarterly revenue estimates

Economic Times

Economic Times · 8m ago

Google parent Alphabet beats quarterly revenue estimates

Alphabet, the parent company of Google, reported better-than-expected third-quarter revenue thanks to strong growth in its digital advertising business and increased demand for its cloud services. Digital ad sales rose to $65.85 billion, while revenue from Google's cloud platform reached $11.35 billion, surpassing analysts' estimates. The company's profit of $2.12 per share also exceeded expectations. Overall, Alphabet experienced a 15% increase in revenue to $88.27 billion during the quarter.

Hindustan Zinc Shares Soar Over 5% Ahead of Board Meeting to Discuss Dividend Proposal

OutlookIndia

OutlookIndia · 1m ago

Hindustan Zinc Shares Soar Over 5% Ahead of Board Meeting to Discuss Dividend Proposal

Hindustan Zinc shares rose over 5% on anticipation of the company's board meeting discussing the first interim dividend for FY26. The meeting is scheduled for June 11, 2025, with the record date for eligible shareholders set for June 17, 2025. The share price increase aligns with a double-digit rise in the company's stocks this year and a surge in silver prices. Hindustan Zinc is a leading zinc and silver producer in India.

We delayed profit by design: Yashish Dahiya

Livemint

Livemint · 1y ago

We delayed profit by design: Yashish Dahiya

PB Fintech, the parent company of Policybazaar, reported its first-ever profitable quarter, with a profit after tax of ₹37.2 crore. The company witnessed a 43% revenue growth, reaching ₹871 crore. The online sales for Q3FY24 grew more than 39% YoY. Yashish Dahiya, CEO of PB Fintech, stated that the profit was delayed intentionally due to new initiatives and employee stock ownership plans. The core business is expected to drive sustainable growth, while the new initiatives will contribute to revenue and scale. Dahiya also addressed concerns about the company's credit business and regulatory changes affecting online sales in the insurance industry.

Expedia beats profit estimates, announces $5 billion share buyback

Economic Times

Economic Times · 1y ago

Expedia beats profit estimates, announces $5 billion share buyback

Online travel booking company Expedia Group has announced a $5 billion share buyback plan following a better-than-expected quarterly profit. The company experienced a boost in demand for international travel, leading to resilient demand and higher rates, which increased margins. The rise in bookings during the Independence and Labor Day holiday weekend also contributed to its strong performance. Expedia's quarterly revenue rose 8.6% to $3.93 billion, surpassing estimates of $3.86 billion. Shares of the company rose by 10% after the announcement.

Vedanta announces ₹4,000 cr dividend, plans to raise ₹8,500 cr

Livemint

Livemint · 1y ago

Vedanta announces ₹4,000 cr dividend, plans to raise ₹8,500 cr

Mining and metals major Vedanta Ltd plans to raise ₹8,500 crore ($1.17 billion) in capital through equity or debt channels. The company also declared an interim dividend of ₹11 per share, totalling ₹4,089 crore. Additionally, it announced an investment in its Saudi Arabian unit to set up a copper rod plant, citing growth opportunities in new geographies. Vedanta has a history of high dividends, driven by parent company Vedanta Resources' debt payment needs. The firm's shares have gained nearly 70% since the start of the year.

Bosch reports ₹518 cr profit in Q3, announces interim dividend

Thehindubusinessline

Thehindubusinessline · 1y ago

Bosch reports ₹518 cr profit in Q3, announces interim dividend

Bosch, the engineering and technology major, reported a net profit of ₹518 crore in Q3, a 62.43% increase from the same quarter last year. The company's revenue from operations also grew by 14.89% to ₹4,205 crore. A special payout in the form of an interim dividend of ₹205 per equity share was declared. The increased demand for vehicles contributed to the strong growth, particularly in the automotive segment. Overall product sales in the automotive segment increased by 16.8% compared to the previous year.

Snap beats profit estimates on strength in advertising platform

Economic Times

Economic Times · 5m ago

Snap beats profit estimates on strength in advertising platform

Snapchat's parent, Snap, exceeded Wall Street's profit expectations due to enhancements in its advertising platform, focusing on AI and machine learning for personalized, automated ad placements. This shift primarily attracted small- and mid-sized advertisers, boosting revenue growth. Despite competition from TikTok and Meta, Snap's user base increased by 9% to 453 million daily active users. Fourth-quarter revenue rose by 14% to $1.56 billion, with a positive forecast for the first-quarter revenue and adjusted EBITDA.

Snapchat beats revenue and user growth estimates, announces $500 million buyback

Economic Times

Economic Times · 8m ago

Snapchat beats revenue and user growth estimates, announces $500 million buyback

Snap, the parent company of Snapchat, exceeded Wall Street's expectations in terms of quarterly revenue and user growth. The company has been successful in attracting advertisers back by improving its ad features. Snap also announced a share repurchase program worth up to $500 million. While Snap initially experienced a stock decline after the news, shares eventually rose to $12. The company has faced challenges from competitors like Facebook and Meta Platforms, but has invested in machine learning and made advertising on Snapchat more accessible to small and medium-sized businesses. In Q3, Snap's revenue reached $1.37 billion, surpassing the average analyst estimate. Snap anticipates Q4 revenue between $1.51 billion and $1.56 billion, and the company expects its new ad formats to boost demand from large advertisers. Daily active users grew by 9% YoY to 443 million, surpassing analyst estimates of 441 million. Snap also reported adjusted earnings per share of 8 cents, higher than the anticipated 5 cents.

Netflix beats expectations on profit and subscribers

Economic Times

Economic Times · 1y ago

Netflix beats expectations on profit and subscribers

Netflix reported strong earnings, with a profit of $2.3 billion and gaining 9.3 million subscribers in the last quarter. The company's heavy investment in content paid off as it converted free users to paid subscribers, thanks to a crackdown on password sharing. However, Netflix shares dipped over 4% in after-market trading as sales in the current quarter may be lower than expected. Despite this, Netflix remains focused on expanding its ad-supported tier and released a lineup of TV shows and films for 2024, including an adaptation of the bestselling Chinese trilogy "3 Body Problem." TikTok and YouTube have helped increase fandom and identify talented storytellers for Netflix.

Tata Motors Results 2024 Updates: Net profit rises 222%, declares dividend

Livemint

Livemint · 1y ago

Tata Motors Results 2024 Updates: Net profit rises 222%, declares dividend

Tata Motors reported a significant increase of 222% YoY in its net profit for the quarter ending March 2024, reaching ₹17,407.18 crore. The company experienced a notable surge of 13.3% in consolidated revenue, amounting to ₹1,19,986.31 crore. Tata Motors also declared a final dividend of ₹6 per share. The domestic passenger vehicle sales reached a record high of over 4.2 million units in FY24, with SUVs and emission-friendly powertrains driving the growth. The company recorded its highest-ever turnover and profits in FY24.

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