$Alphabet-C (GOOG.US)$ gained more than 10% after-hours Thursday after the Google parent reported revenue for the first quarter that beat the average analyst estimate.

GOOG rose 11.4% to trade at $176 as of 8 p.m. ET after the firm reported EPS of $1.89/share on revenue of $80.54 billion, compared with the average estimate $79.04 billion, according to Bloomberg Consensus.

Alphabet also announced its first dividend that will be paid out June 17, according to the earnings release.

"Alphabet’s Board of Directors today approved the initiation of a cash dividend program, and declared a cash dividend of $0.20 per share that will be paid on June 17, 2024, to stockholders of record as of June 10, 2024, on each of the company’s Class A, Class B, and Class C shares," the company's earnings release read. "The company intends to pay quarterly cash dividends in the future, subject to review and approval by the company’s Board of Directors in its sole discretion."

reported revenue for the first quarter that beat the average analyst estimate. The firm reported an EPS of $1.89/share on revenue of $80.54 billion, compared with the average estimate $79.04 billion, according to Bloomberg Consensus.

Alphabet also announced its first dividend that will be paid out June 17, according to the earnings release.

"Alphabet’s Board of Directors today approved the initiation of a cash dividend program, and declared a cash dividend of $0.20 per share that will be paid on June 17, 2024, to stockholders of record as of June 10, 2024, on each of the company’s Class A, Class B, and Class C shares," the release read. "The company intends to pay quarterly cash dividends in the future, subject to review and approval by the company’s Board of Directors in its sole discretion."

Google advertising revenue totaled $61.66 billion vs. analyst estimates of $60.18 billion.

Meanwhile, YouTube ad revenue totaled $8.09 billion against analyst forecasts of $7.73 billion.