Google’s official parent company Alphabet announced its latest financial results for the first quarter of 2024 ended March 31. However, the big news in these numbers was that she would be doing something she had never done before.

Alphabet press release (in PDF format) revealed that it will start issuing cash dividends to its shareholders starting June 17, to anyone who owns shares in the company on or before June 10. The amount will be 20 cents per share and Alphabet says it will continue to pay dividends on a quarterly basis.

In terms of Q1 2024 numbers, Alphabet posted revenue of $80.54 billion during the time period, up from $69.79 billion a year ago, and posted net income of $23.662 billion in the quarter, up from $15.051 billion in the same time period. A year ago.

CNBC says these numbers beat the previous expectations of financial analysts. Alphabet’s stock price Up 15% in after-hours trading as of this writing.

Google’s search business remains its largest division with $46.156 billion in the quarter, up from $40.359 billion a year ago. Google’s subscriptions, platforms and devices division recorded revenues of $8.739 billion in the quarter. This is an increase compared to 7.413 billion dollars from a year ago.

The press release quotes Google CEO Sundar Pichai as saying:

Our first quarter results reflect strong performance from search, YouTube and cloud. We are already in the stages of our age of twins and there is great momentum throughout the company. Our leadership in AI research and infrastructure, and our global product footprint, positions us well for the next wave of AI innovation.

Last week, Google announced a major restructuring of its company. Among other things, it merged its artificial intelligence division with most of its research division into one team. It also combined the hardware and Android/Chrome teams into a single platforms and devices division.