Alphabet announced its first-ever dividend on Thursday and a US$70 billion stock buybuck, cheering investors who sent the stock surging nearly 16 per cent after the bell.
The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals on generative artificial intelligence. The dividend will be 20 cents per share.
Just three months ago, Alphabet's Big Tech rival, Meta Platforms, announced its own first-ever dividend, a move that lifted the social media company's stock market value by $196 billion the following day. Amazon.com remains the lone holdout among Big Tech firms not offering a dividend.
Alphabet beat expectations for the quarter in sales, profit and advertising -- metrics that are all closely watched.
"Alphabet's announced dividend payouts and buybacks on top of the solid earnings beat are not only a breath of fresh air for the tech market as a whole, but also a very intelligent strategy for the search engine giant going into a tough time of the year," said Thomas Monteiro, senior analyst at Investing.com.
Alphabet's after-hours share surge of nearly 16 per cent following the report increased its stock market value by about $300 billion to over $2 trillion.
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.
Revenue was $80.54 billion for the quarter ended March 31, compared with estimates of $78.59 billion, according to LSEG data.
Meanwhile, Google Cloud revenue grew 28 per cent in the first quarter, boosted by a boom in generative AI tools that rely on cloud services to deliver the technology to customers.
Google's cloud services are attractive for venture-capital backed startups developing generative AI technologies due to its pricing and ease of integration with other tools, investors and experts have previously said.
(Reporting by Akash Sriram in Bengaluru; Editing by Sriraj Kalluvila)
Russian President Vladimir Putin is ready to halt the war in Ukraine with a negotiated ceasefire that recognizes the current battlefield lines, four Russian sources told Reuters, saying he is prepared to fight on if Kyiv and the West do not respond.
American Airlines has distanced itself from a court filing in which the carrier said a nine-year-old girl should have noticed there was a camera taped to the seat of an airplane lavatory.
Two broods of periodical cicadas are emerging in the United States simultaneously for the first time since 1803. Here is what their deafening buzz sounds like.
In 2023, Disney closed a highly-publicized luxury hotel on the Walt Disney World property called 'Star Wars: Galactic Starcruiser.' Now, a year later, a four-hour-long YouTube deep-dive has resurfaced details about the concept and spread the niche piece of Disney lore to millions of viewers.
Despite its rough name, experts say most cases of 'slapped cheek disease' are mild and not a cause for concern.
A Toronto man who won $70 million in a recent Lotto Max draw literally fell off his chair when he saw the funds in his bank account.
Approximately 50 Montreal-area students — the vast majority of them female — were suspended Wednesday after their school deemed the shorts they were wearing were too short. On Thursday, several students staged a walk-out to protest what they believe is a "sexist" dress code that unfairly targets girls.
Connor McDavid tipped Evan Bouchard's shot from the boards past Dallas Stars goalie Jake Oettinger 32 seconds into the second overtime to give the Edmonton Oilers a 3-2 win in Game 1 of the Western Conference Final..
Retailer London Drugs says cybercriminals who stole files from its corporate head office last month have released some of the data after it refused to pay a ransom.
The Calgary Philharmonic has confirmed its taking action after controversial online comments made by two members of the orchestra.
Two days after a Vatican-mandated investigation found no evidence that Gerald Lacroix committed sexual abuse, the Quebec cardinal released a video statement saying he did nothing wrong.
The Saskatchewan Teachers' Federation (STF) revealed details of the latest offer from the province on Thursday, following two days of virtual town halls between the federation and its members.
The president of the Treasury Board is standing by the federal government's new hybrid office mandate for federal public servants, but is urging managers to be flexible for staff requiring exemptions.
Health Minister Mark Holland says the government is open to adding more medications to the list of drugs covered by its proposed pharmacare program.
Canadian soldiers and government officials arrived in northeastern France this week for a historic mission: returning an unknown Newfoundland soldier back home.
A two-storey building collapsed on the beach in Palma de Mallorca on Thursday, killing at least four people and injuring 16 people in the tourism hot spot in Spain's Balearic Islands, the country's national police said.
A six-day-old U.S. pier project in Gaza is starting to get more aid to Palestinians in need but conditions are challenging, U.S. officials said Thursday.
Russian President Vladimir Putin is ready to halt the war in Ukraine with a negotiated ceasefire that recognizes the current battlefield lines, four Russian sources told Reuters, saying he is prepared to fight on if Kyiv and the West do not respond.
Arizona doctors can temporarily come to California to perform abortions for their patients under a new law signed Thursday by Gov. Gavin Newsom.
The federal government agreed to a US$15 million fine for Norfolk Southern over last year's disastrous derailment in East Palestine, Ohio.
Families of four of the five Marines killed when their Osprey crashed in California in June of 2022 filed a federal lawsuit Thursday alleging that the aircraft's manufacturers failed to address known mechanical failures that led to the deaths.
Health Minister Mark Holland says the government is open to adding more medications to the list of drugs covered by its proposed pharmacare program.
A bipartisan group of 23 U.S. senators have written to Prime Minister Justin Trudeau urging his country to live up to its commitment to spend 2 per cent of GDP on defence amid concerns that key members of the NATO alliance are not pulling their weight.
A new government bill tabled in the House of Commons on Thursday would allow Canadians to pass citizenship rights down to their children born outside the country — a move that would add an unknown number of new citizens.
Despite its rough name, experts say most cases of 'slapped cheek disease' are mild and not a cause for concern.
Health Minister Mark Holland says the government is open to adding more medications to the list of drugs covered by its proposed pharmacare program.
The U.S. Centers for Disease Control and Prevention said on Thursday that public health officials are investigating multi-state outbreaks of salmonella linked to contact with backyard poultry.
Joining news organizations that have chosen to collaborate rather than fight with the best-known artificial intelligence company, News Corp. has struck a multi-year deal to share news content with OpenAI for both training purposes and to answer questions from users.
The surge in Canada's tick population is linked to recent changes in our climate, according to Mount Allison University biology professor Vett Lloyd.
A Michigan farmworker has been diagnosed with bird flu — the second human case associated with an outbreak in U.S. dairy cows.
Tennessee's attorney general said Thursday that his office is looking into a company's attempt to sell Elvis Presley's home Graceland at a foreclosure auction, a move that was stopped by a judge after the king of rock n' roll's granddaughter filed a lawsuit claiming fraud.
The one remaining wrongful death lawsuit filed after 10 people were killed during a deadly crowd crush at the 2021 Astroworld music festival has been settled, an attorney said Thursday.
A SWAT team raided rapper Sean Kingston's rented South Florida mansion on Thursday and arrested his mother on fraud and theft charges that an attorney says stem partly from the installation of a massive TV at the home.
Gildan Activewear announced Thursday that all board members have resigned and its president and CEO, Vince Tyra, has stepped down.
Retailer London Drugs says cybercriminals who stole files from its corporate head office last month have released some of the data after it refused to pay a ransom.
The U.S. Justice Department sued Ticketmaster and its parent company Thursday, accusing them of running an illegal monopoly over live events in America and asking a court to break up the system that squelches competition and drives up prices for fans.
In 2023, Disney closed a highly-publicized luxury hotel on the Walt Disney World property called 'Star Wars: Galactic Starcruiser.' Now, a year later, a four-hour-long YouTube deep-dive has resurfaced details about the concept and spread the niche piece of Disney lore to millions of viewers.
Sam Butcher, the artist who created the Precious Moments figurines depicting angelic teardrop-eyed children, has died. He was 85.
A five-month-long slumber party. A college dorm. An introvert’s hell. Those are just some of the words residents of Antarctica use to describe life in the world’s coldest, most mysterious continent.
When a record-breaking crowd fills BC Place on Saturday they won't be seeing superstar Lionel Messi play, according to a statement from the Vancouver Whitecaps.
Connor McDavid tipped Evan Bouchard's shot from the boards past Dallas Stars goalie Jake Oettinger 32 seconds into the second overtime to give the Edmonton Oilers a 3-2 win in Game 1 of the Western Conference Final..
An unlikely celebrity emerged from social media to cheer on the Edmonton Oilers as they face the Dallas Stars tonight in Game 1 of the Western Conference Finals.
If you’re planning a road trip this summer, it won’t hurt to make sure your car is reliable and would take you there and back.
BMW and Ethiopian-American artist Julie Mehretu unveiled her newest 'Art Car' at the Pompidou Centre in Paris, France.
Interpol says more than 200 stolen Canadian vehicles have been found each week across the globe since February.
The proprietors of Regina's sole discount theatre are aware they're carrying on a significant legacy.
When Jujhar Mann said he wanted to be a pastry chef on a grade school career project, he didn't imagine that pursuing his dream would land him on a popular Netflix baking competition.
A city known for its history, ties to outer space and southern barbecue, is also home to a Winnipeg chef dishing out dozens of perogies.
A Montreal photographer captured the moment a Canada goose defended itself from a fox at the Botanical Garden.
Public libraries in Atlantic Canada are now lending a broader range of items.
Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
British Columbia’s premier has revealed a cyberattack on a health authority is another ransomware incident, while experts say it appears to be a different group of criminals than those behind two other attacks this month.
The McDougall Creek wildfire burned through dozens of properties last August, including Arturo Peralta's home.
Despite the end of criminal court proceedings in the tragic killing of a six-year-old Port Alberni boy, there remains many unanswered questions.
A dream vacation for an Ontario family quickly turned to frustration when a mother’s name on a ticket didn’t match the name on her passport, meaning she was left behind while her husband and two children flew to France.
Federal Addictions Minister Ya'ara Saks says she had "deep concerns" about the lack of limits Toronto put on its now-rejected pitch to decriminalize the possession of illegal drugs — and the city health agency's refusal to make any changes.
Toronto City Council has approved a motion that could ramp up construction on the Gardiner Expressway.
Changes by the province to physician billing codes are forcing a clinic to end home visits with senior patients.
The Calgary Philharmonic has confirmed its taking action after controversial online comments made by two members of the orchestra.
After weeks of criticism and condemnation from Alberta's municipal leaders, the province has made some changes to its controversial bill granting cabinet more power over local politics.
CTVNewsOttawa.ca looks at things to do in Ottawa during the final weekend of May.
It will be a cloudy start to the last weekend of May in Ottawa, but sunshine and warm temperatures are in the forecast for the Great Glebe Garage Sale and Tamarack Ottawa Race Weekend.
Ottawa police are investigating after someone allegedly stomped on a gosling in Kanata. Police say it appears that Canada geese laid eggs in the area, 'and on May 21, a suspect stomped on one of the hatched babies.'
Approximately 50 Montreal-area students — the vast majority of them female — were suspended Wednesday after their school deemed the shorts they were wearing were too short. On Thursday, several students staged a walk-out to protest what they believe is a "sexist" dress code that unfairly targets girls.
There are growing calls for more security in Montreal, following a triple homicide in the Plateau on Tuesday, and multiple other violent deaths in recent weeks.
Two days after a Vatican-mandated investigation found no evidence that Gerald Lacroix committed sexual abuse, the Quebec cardinal released a video statement saying he did nothing wrong.
Connor McDavid tipped Evan Bouchard's shot from the boards past Dallas Stars goalie Jake Oettinger 32 seconds into the second overtime to give the Edmonton Oilers a 3-2 win in Game 1 of the Western Conference Final..
One person has been charged in the death of an Edmonton teen earlier this week.
Two teen boys have been arrested after a bear spray incident at a Sherwood Park high school.
The National Hurricane Center of the United States has issued their forecast for the 2024 Atlantic hurricane season
A new Cape Breton bylaw seeks to limit overcrowding for shared dwellings.
The tent encampment on University Avenue in Halifax has grown over the past few months and while community members have donated food to the people living there, their efforts have brought some concern.
Manitoba's main political parties have now all lined up candidates for a byelection set for June 18 in the Tuxedo constituency in Winnipeg.
Manitobans are being warned about a major weather event heading to the southeast part of the province that could bring between 50 and 60 millimetres of rain.
A downtown carjacking came to a sudden halt when a vehicle crashed into a building at 541 Portage Ave., the site of CBC Manitoba on Tuesday.
The City of Regina is dipping into its reserve funds to repay the Canada Revenue Agency (CRA) for wage subsidies two city-owned groups received during the COVID-19 pandemic.
The Saskatchewan Teachers' Federation (STF) revealed details of the latest offer from the province on Thursday, following two days of virtual town halls between the federation and its members.
The mayor and councillors of Cumberland House have declared a state of emergency over the poor state of the only road in and out of town — Saskatchewan Highway 123.
2023 was a big year for population growth in the Region of Waterloo.
Big changes are coming to Waterloo Region waste collection.
Ontario Provincial Police are asking drivers to stay alert as the warmer weather means more motorcyclists are hitting the road.
The mayor and councillors of Cumberland House have declared a state of emergency over the poor state of the only road in and out of town — Saskatchewan Highway 123.
Rural and northern communities facing eight-hour or longer drives for routine trips to the doctor could soon be a thing of the past.
A 16-year-old boy is facing an arson charge after multiple vehicles were lit on fire early Thursday morning.
Industrial discharge from a paper mill in northern Ontario is exacerbating mercury contamination in a river system near a First Nation that has been plagued with mercury poisoning for decades, a new study suggests.
A Toronto man who won $70 million in a recent Lotto Max draw literally fell off his chair when he saw the funds in his bank account.
Three people, including two from Toronto, have been arrested in northern Ontario and Ontario Provincial Police have seized a haul of drugs, weapons and other items.
Feedback has been pouring into city hall after the Civic Works Committee discussed changes to the Sound By-law that would further limit the use of gas powered lawn equipment.
The retrial of a man previously found guilty of murdering a bird dog rival is underway in St. Thomas, Ont. with the accused, Boris Panovski, denying any wrongdoing.
A beautiful Friday on the way with a "fresh start" and lots of sunshine, according to CTV News London meteorologist Julie Atchison.
A child has been hospitalized in serious condition after being struck by a recycling truck in a Barrie neighbourhood.
The sentencing hearing for a Barrie couple convicted of sex crimes involving a child got underway on Thursday, with the victim describing physical scars and psychological struggles endured during and since the offence.
Provincial police say a 67-year-old man who crashed on an e-bike over the long weekend has died.
Police in Windsor are probing the 'possible drowning deaths' of two individuals in the area of Sandpoint Beach on the city’s east side.
A Riverside couple is upset after a recent visit from the city’s bylaw enforcement, asking them to remove landscaping on their front lawn after a resident complained that it doesn’t conform to the city’s public right-of-way encroachment bylaws.
Ryan Taylor is on trial for second-degree murder in the death of Thomas 'TJ' McIntyre, who died on Sept. 27, 2020, five days after being involved in a fight with Taylor. The jury has learned about the moments before the altercation, in the testimony of bartender Ashley Lavin.
Despite the end of criminal court proceedings in the tragic killing of a six-year-old Port Alberni boy, there remains many unanswered questions.
Retailer London Drugs says cybercriminals who stole files from its corporate head office last month have released some of the data after it refused to pay a ransom.
Mounties on Vancouver Island say a 29-year-old woman was arrested Tuesday after she was found unconscious in the driver's seat of a stolen vehicle.
One person is dead after a fight in Penticton early Sunday morning, according to authorities.
A suspect is at large after robbing a convenience store at gunpoint in Merritt, B.C., Friday, according to local police.
After four targeted shootings in four days, Mounties in Kamloops are taking the unusual step of warning the public about two men they believe are likely to be targeted in future violent incidents.
The Brooks Bandits were hoping to make a little history Wednesday night.
A Lethbridge man wanted on multiple outstanding warrants turned himself in to police, the LPS announced in a media statement Thursday.
Alberta received a D- grade on Food Bank Canada’s annual poverty report card – a mark that did not come as a surprise for many organizations in Lethbridge.
Tourism officials in Sault Ste. Marie are preparing for a quieter-than-usual cruise ship season.
Three people, including two from Toronto, have been arrested in northern Ontario and Ontario Provincial Police have seized a haul of drugs, weapons and other items.
A 67-year-old driver has been charged after a vehicle in Sault Ste. Marie sped through a stop sign and crashed into a cemetery.
Canadian soldiers and government officials arrived in northeastern France this week for a historic mission: returning an unknown Newfoundland soldier back home.
79-year-old Madonna Wilkinson has been playing the accordion since she was 15, when she picked one up that had been left behind at one of her parents' rollicking parties in the oceanside town about 25 kilometres north of St. John's, N.L. She has played Sunday masses and St. Patrick's Day parties, and community events of all kinds.
Canada's new $10-a-day child care program is expanding, but there's growing evidence that demand for the program is rising even faster, leaving many parents on the outside looking in.
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