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Alphabet beat second-quarter revenue and profit estimates on Tuesday, driven by a rise in digital advertising sales and healthy demand for its cloud computing services, but flagged that capital expenses would remain high for the year. #InsideRetail #Retail #retailnews #profit #estimate #advertising

Google ad revenue is up 13%, while Bing ad revenue is up 12% Google and Microsoft both posted strong earnings, propelling their stock prices up after hours.  Google Ad revenue increased by 13% over the previous year, whereas Microsoft Advertising revenue increased by 12%. Google reported overall ad sales of $61.66 billion, up from $54.55 billion a year earlier. https://lnkd.in/ecMrmJ6e

Alphabet Q2 2024 Earnings The Company's Revenue Soars by 14% Driven by Cloud Computing and Search Ads Alphabet for Q2 reported revenue of $85 billion surged by 14% Year-over-Year (YoY), bolstered by strong performances in Search and Cloud and advertising. For the first time, Cloud exceeded $10 billion in quarterly revenues and achieved $1 billion in operating profit. Alphabet's results highlight strong demand for digital ads, fueled by major events such as the Paris Olympics and elections in various countries, including the U.S. Additionally, a rebound in enterprise spending is enhancing its software business. Advertising revenue, which constitutes the majority of Google's total income stood at $64.62 billion, up from $58.14 billion last year, representing a growth of 11%. This demonstrates continued growth in Google's advertising business. However, this growth is slower than in the first quarter due to rising inflation and interest rates tightening marketing budgets in 2022 and 2023. YouTube ad revenue increased to $8.66 billion from $7.66 billion in the same quarter last year. Despite being the world's largest video platform, YouTube faces growing competition from social video sites like TikTok. Meanwhile, Google Cloud's services business saw a 29% increase to $10.3 billion for the second quarter. Even stronger growth in Alphabet's cloud computing business demonstrated the insatiable demand for computing and data services. This demand is driven by Big Tech companies and start-ups racing to develop large language models and integrate AI into their operations. Net income rose to $23.6 billion, or $1.89 per share, compared to $18.4 billion, or $1.44 per share, in the year-ago quarter. Alphabet's capital expenditure increased to $13 billion, $1 billion more than the previous quarter and nearly double the $6.9 billion spent in the same period in 2023. The company's "Other Bets" unit, which includes its self-driving car company Waymo, generated $365 million, up from $285 million a year ago. Finance chief Ruth Porat announced during the earnings call that Alphabet is committing a new $5 billion multiyear investment in Waymo. In the second quarter, Alphabet saw several expansion updates, including Waymo opening its service to all San Francisco users. This was its second citywide rollout, following its 2020 debut in the Phoenix metropolitan area. CEO Sundar Pichai stated on the earnings call that Waymo is now providing 50,000 weekly paid public rides, primarily in San Francisco and Phoenix. On July 23, Alphabet shares declined by approximately 2% in after-hours trading. Visit Us: https://lnkd.in/dbW2rJ75 Capital at Risk | Sophisticated Investors Only Sources: Alphabet CNBC Firstpost William Rhind Manuj Sarpal Paul Marino Matthew Lamb, CAIA® Gianmarco Roncarolo Benoit Autier

#Google's parent company, #Alphabet, is set to report earnings after the US markets close today, providing insight into the health of its #AI-led business. Alphabet posted impressive first-quarter earnings due to growth acceleration in its Google #Cloud and #advertising sales. Investors expect the company to unveil further innovations in its AI initiatives, an area in which Alphabet has heavily invested. Alphabet shares have risen 31% year-to-date, surpassing the Nasdaq Composite's 20% growth. Euronews Alphabet earnings: Key metrics focus on Google Cloud and ad revenue

In the second quarter of the year, Alphabet reported earnings of $1.89 per share, which surpassed the $1.84 per share anticipated by analysts. Google #Alphabet #Revenue #Report #Earning #Waymo #Business #Finance

🚀 Alphabet released its Q3 2024 earnings, and it’s an exciting time for us at Google! We saw revenue growth of 15%, reaching $88.3 billion, driven by strong performance across our business lines. 📈 Highlights: • Google Services revenue hit $76.5 billion, with Search, YouTube ads, and Google subscriptions driving growth. • Google Cloud revenue jumped 35% to $11.4 billion, with rapid adoption of AI solutions, including our Generative AI products. • Operating income increased by 34%, and our operating margin improved by 4.5 points to 32%. Earnings per share rose 37% to $2.12. Our continued investment in AI is transforming user experiences, from Search with new AI features to Cloud’s tailored solutions. We’re helping customers go deeper and grow faster, and YouTube is stronger than ever, with total ad and subscription revenue surpassing $50 billion over the past year. It’s inspiring to see the incredible work of our teams powering innovations that benefit users, creators, and businesses around the world. Excited to see what’s next! Full results can be found here: https://lnkd.in/e-fxmz6t

✅ 𝙂𝙤𝙤𝙜𝙡𝙚 𝙥𝙖𝙧𝙚𝙣𝙩 𝘼𝙡𝙥𝙝𝙖𝙗𝙚𝙩 𝙗𝙚𝙖𝙩𝙨 𝙌𝟮 𝙧𝙚𝙫𝙚𝙣𝙪𝙚, 𝙥𝙧𝙤𝙛𝙞𝙩 𝙚𝙨𝙩𝙞𝙢𝙖𝙩𝙚𝙨 𝙤𝙣 𝙨𝙩𝙧𝙤𝙣𝙜 𝙖𝙙𝙨, 𝙘𝙡𝙤𝙪𝙙 ----------------------------- 📢𝘼𝙡𝙡 𝙢𝙮 𝙨𝙩𝙖𝙩,𝙤𝙫𝙚𝙧 +𝟭𝟬𝟬% 𝙨𝙞𝙣𝙘𝙚 𝙄 𝙨𝙩𝙧𝙖𝙧𝙩𝙚𝙙 𝙤𝙣 𝙀𝙩𝙤𝙧𝙤 https://lnkd.in/dCZFVpu7 📌 𝙏𝙧𝙖𝙙𝙞𝙣𝙜 𝙨𝙞𝙣𝙘𝙚 𝟮𝟬𝟬𝟲 🔍𝘼𝙡𝙬𝙖𝙮𝙨 𝙢𝙤𝙧𝙚 𝙩𝙝𝙖𝙣 𝟰𝟬 𝙨𝙝𝙖𝙧𝙚𝙨 𝙞𝙣 𝙥𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤 ✅ (Reuters) -Alphabet beat second-quarter revenue and profit estimates on Tuesday, driven by a rise in digital advertising sales and healthy demand for its cloud computing services, but flagged that capital expenses would remain high for the year. Alphabet (NASDAQ:GOOGL)'s results underscore robust demand for digital ads, driven by events like the Paris Olympics and elections in several countries including the U.S., while a recovery in enterprise spending is boosting its software business. Strong adoption of generative artificial intelligence technology drove its cloud business. Advertising sales, Alphabet's chief revenue source, rose 11% to $64.6 billion. The company sells ads in its search product using customer data to better target them. Net income in the quarter ended June 30 rose 28.6% to $23.6 billion, besting the average estimate of $22.9 billion. Investor reaction was mixed, with the shares initially rising about 2% before dipping by a similar percentage. They had gained more than 30% this year, outperforming a 20% rise in tech-heavy Nasdaq Composite Index. "This was another stellar quarter from Google with beats across the board," said Ido Caspi a research analyst with Global X, citing ad sales and artificial intelligence offerings as drivers. Total revenue grew 14% to $84.74 billion, compared with analysts' consensus estimate of $84.19 billion according to LSEG data. Ad sales in its YouTube division rose 13% to $8.67 billion. Revenue from cloud computing services, a widely watched barometer for the health of enterprise technology spending, rose 28.8% to $10.35 billion. Analysts had expected $10.16 billion. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Alphabet reported capital expenditures of $13 billion in the June quarter. Ruth Porat, in her last conference call as Alphabet's chief financial officer, told investors that quarterly capital expenditures for the rest of 2024 would be at or above $12 billion. In the January-March period, the company's capital expenditure had jumped 91% to $12 billion, spooking investors. Like its competitors, Alphabet is racing to roll out AI offerings as investors continue to pour billions into the technology. https://lnkd.in/dDCm-ZZw https://lnkd.in/dDCm-ZZw #AlphabetBeatsEstimates #StrongAdsCloud #AIAdoption #HighCapex

[Alphabet Keeps Revenue Growth Steady] Alphabet (GOOGL / GOOG) reported a 14% rise in revenue, slightly lower than the 15% year-over-year increase in the previous quarter, but still in line with expectations. The only laggard was Google Network, which saw a 5% decline in revenue. This segment encompasses third-party ads where Google partners with other websites to publish its advertisements. In contrast, revenues from Google's own properties remained robust, with YouTube revenue growing by 13%. The key growth driver was Google Cloud, boasting a 28% year-over-year growth and surpassing $10 billion in revenue, reaching this milestone before YouTube ads. Alphabet continues to trim staff costs, with a 1% reduction in the number of employees from a year ago. Enhanced cost control measures led to a 29% increase in net profit for Q2 2024. Following the initiation of a dividend program last quarter, Alphabet announced a $0.20 per share dividend for this quarter as well. This dividend represents about 11% of the quarter's net income, leaving sufficient funds for future growth. I believe Alphabet will likely increase its dividend on an annual basis moving forward. In other news, Wiz, an acquisition target for Google, decided to forgo the $23 billion deal in favor of pursuing an IPO. Wiz is a cybersecurity company that could enhance Google Cloud's offerings. This strategic acquisition was aimed at improving Google Cloud's value proposition and helping it catch up with Microsoft's very own security suite, which Satya Nadella projected to reach $100 billion by 2030. Given Google Cloud's strong growth, the acquisition was seen as crucial. Unfortunately, with talks breaking down, Google will need to seek alternative opportunities. Subscribe for more insights: https://lnkd.in/g9pXn_Tx

In the first quarter of 2024, Alphabet reported earnings per share of $1.89, significantly surpassing analysts’ estimates of $1.51. Google #alphabet #google #earning #report #business #finance #news