Google stock

Alphabet had reported a Q2 EPS of $1.21, which was $0.07 lower than analyst estimates of $1.28. And the revenue for the quarter was $69.69 billion compared to ...

Google Cloud revenue was $6.276 billion compared to $4.628 billion last year. And YouTube ads revenue was $7.34 billion, compared to $7 billion last year. As we sharpen our focus, we’ll continue to invest responsibly in deep computer science for the long-term.”

Google parent Alphabet reported its second straight earnings decline on Tuesday, although analysts see the company's search business as a major positive in ...

Analysts tracked by FactSet had estimated net income of $1.27 a share. After removing traffic acquisition costs, Alphabet’s revenue was $57.5 billion, compared with $51.0 billion in the same period last year and the company’s overall revenue grew 13% to $69.7 billion. Search revenue was $40.7 billion, up from $35.8 billion in the same period last year. UBS lowered its Alphabet price target to $132 from $133 and maintained its buy rating. “GOOGL’s 2Q came in better than feared, though management did call out tough 2H comps, macro uncertainty and FX headwinds,” Patil wrote. Truist Securities lowered its Alphabet price target to $145 from $150 but maintained its buy rating. The company’s second-quarter net income was $16 billion, or $1.21 a share, compared with net income of $18.5 billion, or $1.36 a share, in the prior year’s quarter. However, despite near-term headwinds, Stifel is encouraged by the durability of Alphabet’s core business, according to Devitt. Stifel maintained its $145 price target and buy rating for Alphabet, but lowered its third-quarter gross revenue estimate to $71.1 billion from $71.8 billion. Alphabet reported solid results in a tough operating environment, according to Stifel analyst Scott W. Devitt. “The slight miss on gross revenue was driven by slower-than-expected growth in YouTube, Network, and Other as revenue growth in those segments was impacted by a pullback in demand from some advertisers (stemming from the uncertain macro environment) and challenging prior year comps,” he wrote, in a note released on Tuesday. Susquehanna, which has a positive rating for the company, lowered its Alphabet price target to $150.00 from $187.50. Alphabet’s second-quarter results show the power of its search business, according to Truist Securities. “We remain constructive on GOOGL as the company displayed strong resiliency in 2Q22, delivering virtually in line results and better than feared, powered by search and cloud,” wrote Truist Securities analyst Youssef Squali, in a note released Tuesday. “We believe that Street expectations are getting to be more reasonable and achievable, paving the way for the stock to start working again.” “While GOOGL won’t be immune from macro pressures, we continue to believe that search should be one of the most resilient categories of digital spend and provide solid support for the overall business.”