Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) shares were trading more than 7% higher after-hours following the company’s Q4 results, with EPS coming in at $30.69, beating the Street estimate of $27.48. Quarterly revenue rose 32% year-over-year to $75.33 billion, above the consensus estimate of $72.13 billion, reflecting broad-based strength in advertiser spend and strong consumer online activity, as well as strong growth in the Cloud business.

Alphabet also announced that the Board of Directors had approved and declared a 20-for-one stock split in the form of a one-time special stock dividend on each share of the Company’s Class A, Class B, and Class C stock. If approval is obtained, each of the Company’s stockholders of record at the close of business on July 1, 2022, will receive, after the close of business on July 15, 2022, a dividend of 19 additional shares of the same class of stock for every share held by such stockholder as of the Record Date.