Beijing time on April 27 news, Google parent company Alphabet said on Tuesday that its board of directors has approved a scale of $70 billion(approximately 458.5 billion yuan) share repurchase plan, compared with 50 billion US dollars in 2021 and 25 billion US dollars in 2019.Substantial growth.
The move signals the beginning of Alphabet’s strategy to return capital to shareholders through share buybacksSignificant acceleration. Alphabet said it will take stock prices and market conditions into account when deciding when to buy back shares. In 2021, Alphabet’s share buybacks will be second only to Apple among public companies. Facebook parent company Meta came in third.
Alphabet released its first-quarter earnings today, with revenue of $68.01 billion, up 23% year-over-year.But it fell short of the average analyst estimate of $68.1 billion; Net profit was $16.436 billion, or $24.62 per share, also below expectations of $25.76.Alphabet shares were in after-hours trading at press timedown more than 5%.
.
[related_posts_by_tax taxonomies=”post_tag”]
The post Google repurchases $70 billion in stock, Q1 results fell short of expectations, the stock price fell 5% appeared first on Gamingsym.