Alphabet (NASDAQ:GOOG,NASDAQ:GOOGL) had a slow start to the year as AI blunders blinded investors from high growth in the company’s search and cloud segments. However, the stock is back in the spotlight and thriving after a dominant earnings report. Revenue acceleration, rising profit margins, and a recently announced dividend strengthen the stock’s bullish thesis and make it look attractive for the long term.
Alphabet’s Revenue Growth Accelerated
Alphabet reported 15% year-over-year revenue growth in Q1 2024. That growth rate helped the corporation generate $80.5 billion in total revenue. It’s a good improvement from Q4-2023’s 13.5% growth rate. Additionally, Alphabet only achieved 3% year-over-year revenue growth in Q1 2023.
Google Cloud revenue also accelerated in the quarter and is becoming a larger component of the company’s total business. The cloud computing segment brought in…
