Alphabet(US:GOOGL)2024-05-08 03:32Investment Rating - The report does not specify an investment rating for the company [3] Core Insights - The company reported Q1 2024 revenue of $80.539 billion, a 15.4% increase year-over-year, exceeding market expectations of $79 billion [1][2] - Google Services revenue reached $70.398 billion, growing 13.6% year-over-year, with core businesses like advertising and search showing double-digit growth [2][4] - Google Cloud revenue grew 28.4% year-over-year to $9.6 billion, driven by accelerated digital transformation and AI-related services [2][4] - Operating profit increased from $17.4 billion in Q1 2023 to $25.5 billion in Q1 2024, with an operating margin improvement from 25% to 32% [2][4] - Net profit surged 57.2% year-over-year to $23.6 billion, significantly surpassing market expectations [1][2] Revenue Performance - Total revenue for Q1 2024 was $80.539 billion, with a year-over-year growth of 15.4% [4] - Google Services revenue was $70.398 billion, reflecting a 13.6% increase year-over-year [4] - Google Cloud revenue reached $9.6 billion, marking a 28.4% year-over-year growth [4] Cost Management and Profitability - The company successfully reduced sales, management, and R&D expense ratios, leading to a combined decrease of 4.7 percentage points year-over-year [1][2] - The workforce decreased from 190,711 to 180,895 employees year-over-year, indicating cost control measures [2][4] - Operating profit margin improved to 32%, up from 25% in the previous year [2][4] Shareholder Returns - The company announced its first-ever dividend of $0.20 per share, with plans for quarterly dividends in the future [6] - An additional stock buyback of up to $70 billion was authorized by the board [6]