The Zacks Analyst Blog Highlights Alphabet, IShares Global Comm Services ETF, Communication Services Select Sector SPDR Fund, Vanguard Communication Services ETF and Fidelity MSCI Communication Services Index ETF
Zacks.com has recently announced the list of stocks and ETFs featured in their Analyst Blog. The Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets on a daily basis. Some of the stocks and ETFs featured in the blog include Alphabet (GOOGL), IShares Global Comm Services ETF (IXP), Communication Services Select Sector SPDR Fund (XLC), Vanguard Communication Services ETF (VOX), and Fidelity MSCI Communication Services Index ETF (FCOM).
Alphabet reported better-than-expected first-quarter earnings on April 25, with earnings of $1.89 per share surpassing the Zacks Consensus Estimate of $1.49 by 26.85%. The company’s market capitalization exceeded $2 trillion after a surge in its shares following the earnings release. Alphabet’s stock has gained about 13% since the beginning of the year.
In the first quarter of 2024, Alphabet posted revenues of $67.59 billion, a 16.4% increase from the same period last year. The company’s net income also saw a significant increase of 57.21% year over year. Revenues from Google advertising and YouTube ads experienced growth, while Google Cloud business witnessed a substantial surge in operating income and revenues.
Alphabet announced a cash dividend of $0.20 per share payable on June 17, 2024, to shareholders recorded as of June 10. The company plans to maintain a quarterly cash dividend distribution policy moving forward.
The earnings results of Alphabet have had a significant impact on ETFs heavily invested in the company. Some ETFs with double-digit exposure to Alphabet include IShares Global Comm Services ETF, Communication Services Select Sector SPDR Fund, Vanguard Communication Services ETF, and Fidelity MSCI Communication Services Index ETF.
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For more information and analysis on stocks and ETFs, investors can visit Zacks.com. Please note that past performance is not indicative of future results, and the information provided is for informational purposes only.