Google 'Copy Pasted What META Did Last Quarter,' Redditor On Q1 Earnings

Benzinga - by Surbhi Jain, .

Google’s parent company, Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), made waves in the stock market with a more than 10% surge in after-hours trading on Thursday, and an 11.95% surge in pre-market trading on Friday.

The announcement of its first-ever dividend and a $70 billion buyback program fueled the enthusiasm.

Google’s Q1 Earnings Smashed Estimates

Earnings per share came in at $1.89, surpassing the $1.51 per share expected by analysts. Revenue also beat expectations, reaching $80.54 billion, compared to the anticipated $78.59 billion.

Additionally, YouTube advertising revenue hit $7.72 billion, and Google Cloud revenue reached $9.35 billion, both exceeding estimates. Google reported Traffic Acquisition Costs (TAC) at $12.74 billion, in line with expectations.

More on the earnings here: Alphabet Q1 Earnings: Revenue Beat, EPS Beat, $70B Buyback, First-Ever Dividend, AI Leadership And More

Redditors’ Reaction To Earnings – Comparisons Drawn To Meta

Recalling Meta Platform Inc‘s (NASDAQ:META) Q4 earnings back in February: Meta Platforms Q4 Earnings Highlights: Revenue Beat, EPS Beat, Company’s First Dividend And More

Another user highlighted Google’s dominance in various tech sectors, stating, “They legitimately have a virtual monopoly on internet search, user-created internet video content, and 70% of the mobile user population uses their OS. Google’s only heading upwards.”

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Another Redditor pointed out Google’s track record of defying naysayers, noting, “Back when Google Glasses were announced and then flopped, people said they were done. Then they had drama with YouTube monetization and ads (I suppose that’s still ongoing) and people said they were going to fail any year now. It’s the same thing that happened with Meta recently.”

First-Ever Dividend Buoyed Google Stock

Google’s strong Q1 earnings and new dividend and buyback program have boosted investor confidence, driving the stock higher. This move cements Google’s status as a leading force in the tech industry.

Read Next: Wall Street Futures Ride High On Microsoft, Alphabet Cheer, But Will Inflation Data Burst The Bubble? Why This Analyst Thinks Bull Run Isn’t Over Yet

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