Shares of Google parent Alphabet jump as advertising growth lifts revenue to over $90B

Core Insights - Alphabet, Google's parent company, announced a $70 billion share buyback and exceeded quarterly revenue expectations, driven by growth in its digital advertising sector [1][4]. Group 1: Financial Performance - Total revenue for the first quarter reached $90.23 billion, surpassing analysts' average estimate of $89.12 billion [5]. - Revenue from Google's primary advertising business, which constitutes approximately 75% of total revenue, increased by 8.5% to $66.89 billion, although this was a deceleration from the previous quarter's 10.6% growth [3][6]. - Google Cloud's revenue grew by 28% to $12.26 billion, down from a 30.1% increase in the prior quarter, with analysts expecting $12.27 billion [3]. Group 2: Market Context - Despite concerns over President Trump's trade policy potentially leading to an economic downturn and affecting advertising spending, the digital ad market remained resilient in the first quarter [2].