The post Alphabet Inc. Shakes Up Market with First Dividends, $70 Billion Buyback first appeared on Thrift My Life. Featured Image Credit: Shutterstock / RYO Alexandre. The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
Is alphabet a good stock to buy?
Alphabet ( GOOG, GOOGL) reported first quarter earnings on Tuesday that beat expectations on the top- and bottom-lines, while also authorizing a massive $70 billion stock buyback. Alphabet stock rose as much as 5% in after hours trading on the news.
Why did alphabet stock rise 12% in after-hours trading?
Google parent Alphabet Inc.’s stock soared 12% in after-hours trading Thursday following huge spikes in revenue and net income that trounced analysts’ predictions — as well as its first-ever cash dividend of 20 cents per share. Alphabet’s board also authorized the repurchase of up to $70 billion in shares.
