Alphabet CEO 'Very, Very Confident' That It Won't Be 'Costly To Serve' Search Experience With Generative Answers
Portfolio Pulse from Ananya Gairola
Alphabet Inc. CEO Sundar Pichai expressed confidence in managing costs for the new search experience with generative answers, following strong first-quarter earnings. The company beat analyst estimates, with revenue up 15% year-over-year. There's speculation about Google charging for AI-powered search, which could generate additional revenue. Alphabet's Class A and Class C shares saw significant after-hours gains.
April 26, 2024 | 2:28 am
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POSITIVE IMPACT
Alphabet's Class C shares surged 11.4% after hours following strong Q1 earnings and confidence in managing costs for new AI-powered search.
The surge in Alphabet's Class C shares is directly attributed to the company's strong first-quarter earnings performance and the CEO's confidence in managing costs for the new search experience. This positive financial outlook and strategic confidence likely contributed to investor optimism, driving up the stock price in after-hours trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Alphabet's Class A shares soared 11.6% after hours, buoyed by strong Q1 results and the CEO's confidence in cost management for AI search.
The increase in Alphabet's Class A shares post-earnings is a direct result of the company outperforming analyst estimates and the CEO's reassurance about managing the costs of the new AI-powered search experience. This has likely instilled confidence among investors, leading to a significant uptick in the stock's value after hours.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100