Google’s Earnings Shine, But After-Hours Trading Dips 📉
Kia ora Tiger traders,
Almost hitting the red line bottom to red line top, Google's earnings report after market close brought some exciting news! Earnings came in at $1.89 per share, up 31% from last year, with gross revenue rising 14% to $84.74 billion. Analysts had predicted earnings of $1.84 per share on $84.22 billion revenue—Google's got it covered!
Jefferies analyst Brent Thill noted, "Q2 results were not as convincing as in Q1, when the beat was broader." Despite this, Google stock surged over 2% to around $185.55 in extended trading. Year-to-date, shares are up 32%.
M Key Highlights:
- Search Advertising: $48.51 billion (topping estimates)
- YouTube Ad Revenue: $8.66 billion (missing estimates)
- Cloud Computing Revenue: $10.35 billion (above estimates)
- Operating Margins: Increased to 32% from 29%
- Capital Spending: $13.19 billion, exceeding estimates
Additionally, Google hit a record with $15.68 billion in stock buybacks in Q2. With a Composite Rating of 98, Google remains a top contender among AI stocks. Keep an eye on their new CFO, Anat Ashkenazi, starting July 31.
Fun Fact:
Did you know Google's name is derived from the mathematical term "googol," meaning 1 followed by 100 zeros? It signifies their mission to organize vast amounts of information!
Historical Fact:
In 2004, Google went public with an IPO price of $85. Imagine the gains for early investors!
Analyst Quote:
"Google's strategic investments in AI and robust advertising revenue streams continue to make it a formidable player," says Brent Thill.
Stay tuned and keep riding the 🌊!
Happy GOOGL trading ahead! Cheers, BC 🍀
@Tiger_Earnings @Tiger_comments @TigerPicks @TigerPM @CaptainTiger @Daily_Discussion @TigerOptions @TigerStars
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Thanks for sharing the fun facts! It is interesting!!!