• Register

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Alphabet's capitalization exceeded $2 trillion for the first time


April, 27 2024
watermark Economic news

The market value of Google's holding company, Alphabet Inc., exceeded the $2 trillion mark for the first time. This made it the fourth American company which capitalization has reached this level. In addition to Alphabet Inc., only Apple Inc., Microsoft Corp. and Nvidia Corp. have previously crossed this line. 


Alphabet's stock prices rose 10.2% on Friday, helped by good quarterly reporting. This was also the highest daily increase since July 2015.


Over the past three months, the company's capitalization has increased by 12%, and since the beginning of this year – by more than 23%, reaching $2.15 trillion, which is slightly below the market value of Nvidia ($2.19 trillion).


Alphabet's net profit in the first quarter increased by more than one and a half times and amounted to $23.66 billion. Earnings per share rose to $1.89 from $1.17, and revenue increased 15% to $80.54 billion. 


Experts' forecasts turned out to be lower than the actual figures: the average forecast for net income per share was $1.51 with revenue of $78.75 billion.


In addition, Alphabet management announced plans to pay quarterly dividends for the first time in the company's history – in the amount of 20 cents per share, and also approved a share buyback program worth up to $70 billion.


Top Top