SAN FRANCISCO - Alphabet Inc, Google's parent company, on Thursday reported its first-quarter revenue at $90.23 billion, up 12 percent from the same period last year.

Announcing its financial results for the quarter ending March 31, 2025, the company said its net income was $34.54 billion, or $2.81 of earnings per diluted share, compared with $23.66 billion, or $1.89 of earnings per diluted share, in the same period of 2024.

Among the entire quarterly revenue of $90.23 billion, $77.26 billion came from Google Services, compared with $70.40 billion in the first quarter of 2024.

The quarterly financial report also showed that Google Cloud sales grew to $12.26 billion from $9.57 billion in the same period of 2024.

ALSO READ: Alphabet reaffirms $75 billion spending plan in 2025 despite tariff turmoil

Dividend payments to stockholders of Class A, Class B, and Class C shares were $1.2 billion, $171 million, and $1.1 billion, respectively, totaling $2.4 billion for the three months ending March 31, 2025.

Alphabet's Board of Directors declared a quarterly cash dividend of $0.21, representing a 5 percent increase from the previous quarterly dividend of $0.20. The dividend is payable on June 16, 2025, to stockholders of record for each of the company's Class A, Class B, and Class C shares as of June 9, 2025.

"We're pleased with our strong Q1 results, which reflect healthy growth and momentum across the business. Underpinning this growth is our unique full stack approach to AI," said Sundar Pichai, CEO of Alphabet.

READ MORE: Alphabet reports Q4 revenue with 12% growth

"This quarter was super exciting as we rolled out Gemini 2.5, our most intelligent AI model, which is achieving breakthroughs in performance and is an extraordinary foundation for our future innovation," he noted.