{"id":1478946,"date":"2024-07-23T20:16:33","date_gmt":"2024-07-24T00:16:33","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1478946"},"modified":"2024-07-23T20:16:33","modified_gmt":"2024-07-24T00:16:33","slug":"alphabet-shares-unimpressed-despite-top-bottom-line-beat","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/alphabet-shares-unimpressed-despite-top-bottom-line-beat\/1478946\/","title":{"rendered":"Alphabet Shares Unimpressed Despite Top- & Bottom-Line Beat"},"content":{"rendered":"

Alphabet Shares Unimpressed Despite Top- & Bottom-Line Beat<\/span><\/p>\n

\n

Alphabet reported better than expected top- and bottom-lines<\/strong> for the second quarter after the bell tonight.<\/p>\n

Revenue $84.74 billion, estimate $84.37 billion<\/p>\n

Revenue ex-TAC $71.36 billion, estimate $70.7 billion<\/p>\n

EPS $1.89, estimate $1.84<\/p>\n

Cloud revenues were particularly strong<\/strong> as the rest of the business segments were basically in line (with Ad revenue solid)…<\/p>\n

Google Services revenue $73.93 billion, estimate $73.58 billion<\/p>\n

Google advertising revenue $64.62 billion, estimate $64.53 billion<\/strong><\/p>\n

YouTube ads revenue $8.66 billion, estimate $8.95 billion<\/p>\n

Google Search & Other Revenue $48.51 billion, estimate $47.65 billion<\/p>\n

Google Network Revenue $7.44 billion, estimate $7.87 billion<\/p>\n

<\/a><\/p>\n

Google Subscriptions, Platforms and Devices Revenue $9.31 billion, estimate $9.38 billion<\/p>\n

Google Cloud revenue $10.35 billion, estimate $10.09 billion<\/strong><\/p>\n

<\/a><\/p>\n

Other Bets revenue $365 million, estimate $389.6 million<\/p>\n

Ruth Porat, President and Chief Investment Officer; CFO said:<\/p>\n

\u201cWe delivered revenues of $85 billion, up 14% year-on-year driven by Search as well as Cloud,<\/strong> which for the first time exceeded $10 billion in quarterly revenues and $1 billion in operating profit. <\/em><\/p>\n

As we invest to support our highest growth opportunities, we remain committed to creating investment capacity with our ongoing work to durably re-engineer our cost base.\u201d<\/em><\/strong><\/p>\n

Sundar Pichai, CEO, said:<\/p>\n

\u201cOur strong performance this quarter highlights ongoing strength in Search and momentum in Cloud. We are innovating at every layer of the AI stack. <\/strong><\/em><\/p>\n

Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead.\u201d<\/em><\/p>\n

The initial kneejerk reaction was 3-4% lower (perhaps on the lack of big beat), but that has reversed and GOOGL is trading higher in the after-hours…<\/strong><\/p>\n

<\/a><\/p>\n

Let’s see if this can hold…<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 07\/23\/2024 – 16:16<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/alphabet-shares-unimpressed-despite-top-bottom-line-beat<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Alphabet Shares Unimpressed Despite Top- & Bottom-Line Beat Alphabet reported better than expected top- and bottom-lines for the second quarter after the bell tonight. Revenue…<\/p>\n","protected":false},"author":0,"featured_media":1478947,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1478946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6cJY","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/07\/bfmEA75-RMxexA.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1478946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1478946"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1478946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1478947"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1478946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1478946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1478946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}