# Alphabet earned $62.6 billion, or $5.11 per share, during the January-March period.

*business · news · 2026-04-29 · Newsmax*

## Key points

- Alphabet reported $62.6 billion in profit, an 81% year-over-year increase, for Q1 2024.
- Google Cloud revenue jumped 63% to $20 billion, boosted by new AI-driven corporate and government deals.
- Alphabet's market value reached $4.2 trillion, rising from $1.9 trillion just a year ago.
- Alphabet is allocating $175-$185 billion on capital expenditures in 2024, mainly for AI infrastructure.

**Companies:** Alphabet Inc.
**Countries:** United States

[Read the full story on Newsmax](https://www.newsmax.com/finance/streettalk/google-alphabet-first/2026/04/29/id/1254678/)

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