Alphabet Inc. Surpasses $2 Trillion Valuation for First Time in 25-Year History
1 years ago
Alphabet Inc., Google's parent company, has reached a $2 trillion valuation. This is attributed to a 14.4% growth in Google's advertising revenue, a 21% increase in YouTube revenues, and a rise in Google Cloud's growth rate to 28.4%. Despite facing competition, Google managed to decrease operating expenses by 2% while increasing total revenue by 15%. The company's net profit rose by 57% to $23.7bn. Google also plans to pay a quarterly dividend and expand its stock buyback program.
