Google’s parent company Alphabet (NASDAQ: GOOGL) saw its stock price soar on the back of better than expected Q4-2021 earnings. The tech giant also announced a 20-for-1 stock split, effective July 2022.
More Details🧐 GOOGL soared more than 10% in premarket trading as the earnings release showed higher than expected revenues & earnings per share (EPS).
The strong earnings further solidified the company’s case against withstanding inflationary pressures, with YouTube ad revenue the only metric falling short of analyst expectations.
In the same earnings release statement, Alphabet announced a 20-for-1 stock split that will see its price go from near $3,000/share to around $135/share.
Why is this Important🤔 The stock split aims to attract smaller investors (whose numbers increased massively during the pandemic) who otherwise wouldn’t be able to afford a single GOOGL share.
