Alphabet's capitalization exceeded $2 trillion for the first time

The market value of Google's holding company, Alphabet Inc., exceeded the $2 trillion mark for the first time. This made it the fourth American company which capitalization has reached this level. In addition to Alphabet Inc., only Apple Inc., Microsoft Corp. and Nvidia Corp. have previously crossed this line. 

Alphabet's stock prices rose 10.2% on Friday, helped by good quarterly reporting. This was also the highest daily increase since July 2015.

Over the past three months, the company's capitalization has increased by 12%, and since the beginning of this year – by more than 23%, reaching $2.15 trillion, which is slightly below the market value of Nvidia ($2.19 trillion).

Alphabet's net profit in the first quarter increased by more than one and a half times and amounted to $23.66 billion. Earnings per share rose to $1.89 from $1.17, and revenue increased 15% to $80.54 billion. 

Experts' forecasts turned out to be lower than the actual figures: the average forecast for net income per share was $1.51 with revenue of $78.75 billion.

In addition, Alphabet management announced plans to pay quarterly dividends for the first time in the company's history – in the amount of 20 cents per share, and also approved a share buyback program worth up to $70 billion.