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Egerton Capital (UK) LLP, managed by John Armitage, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund increased its position by 1,784,517 shares.
Recent Updates on Alphabet Inc. Class C stock
Alphabet Inc. Class C (GOOG) reported strong financial results for Q4 2024, with consolidated revenues reaching $96.5 billion, a 12% increase from the previous year. This growth was driven by a 10% rise in Google Services revenue, totaling $84.1 billion, and a 30% increase in Google Cloud revenue, amounting to $12 billion. The company attributed its impressive performance to advancements in artificial intelligence, which bolstered Google Search, YouTube ads, and AI infrastructure. Operating income surged by 31%, with net income rising by 28%, and earnings per share increasing by 31% to $2.15. CEO Sundar Pichai emphasized AI leadership as a key success factor and announced plans for substantial capital investments in 2025 to enhance technological capabilities. Alphabet remains optimistic about leveraging AI for future growth and exploring new opportunities.
More about Alphabet Inc. Class C
YTD Price Performance: -1.87%
Average Trading Volume: 19,425,532
Current Market Cap: $2282.6B
