GOOGLE 2024 Q1 Earnings Call + Q&A
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Read More Here: https://www.shacknews.com/article/139661/google-googl-q1-2024-share-buyback-70-billion
Google was one of the latest large tech companies to report on its recent quarterly earnings results. Its Q1 2024 earnings results spelled fairly good news for the company, but Google is also following what is now a three-year trend on its Q1 business: The company has, yet again, announced an increase in its share buyback program, authorizing an additional $70 billion for the program this year.
Google announced the additional authorized funds for its share buyback program in its Q1 2024 earnings results report on its investor relations website. In said report, Google announced the details of the increased authorized $70 billion for the program:
Alphabet’s Board of Directors today authorized the company to repurchase up to an additional $70.0 billion of its Class A and Class C shares in a manner deemed in the best interest of the company and its stockholders, taking into account the economic cost and prevailing market conditions, including the relative trading prices and volumes of the Class A and Class C shares. The repurchases are expected to be executed from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans.
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