| Alphabet announced its first-ever dividend on Thursday and a $US70 billion stock buyback, cheering investors who sent the
Alphabet beat expectations for the quarter in sales, profit and advertising - metrics that are all closely watched. In a call to discuss results, CEO Sundar Pichai touted Google’s AI offerings as a boon to its core search results. “We are encouraged that we are seeing an increase in search usage among people who are using the AI overviews,” he said.
The search firm’s beat on first-quarter revenue was powered by rising demand for its cloud services on the back of increasing adoption of artificial intelligence and steady advertising spending.
Source: News Formal (newsformal.com)
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