Google-parent Alphabet's revenue beats estimates as ad sales hold up

The latest earnings from Google and Microsoft, which together directly employ 9,000 people in the Republic, are being closely watched for any signs of further layoffs.

Google owner Alphabet has been looking to keep a tight control on costs amid US recession fears. File Picture: AP

Alphabet said yesterday it would buy back $70bn (€63.8bn) in stock and posted first-quarter revenue above estimates as demand rose for cloud services and ad sales held up better than expected.

Investors cheered the buyback plan, sending shares of the Google parent about 4% higher in extended trading.