"Google Earnings Miss Estimates But Internet Search Advertising Holds Up

REINHARDT KRAUSE11:08 AM ET 07/27/2022

Shares in Google-parent Alphabet (GOOGL) jumped Wednesday after the
internet giant posted better-than-feared June quarter results. Revenue
growth at the core digital advertising business of GOOGL stock edged by
views, though earnings and revenue missed.

Google's advertising revenue tied to internet search seems resilient,
analysts say. Search-related ad revenue rose 14% year-over-year, topping estimates.

"Search continues to be resilient given large number of advertisers and performance nature of ads," said Oppenheimer analyst Jason Helfstein in
a report.

Alphabet reported second quarter earnings after the market close on
Tuesday. Google said second-quarter earnings fell 11% to $1.21 per
share. The company reports earnings under generally accepted accounting principles, also known as GAAP.

GOOGL Stock: Currency Exchange Rate Hit
Also, gross revenue rose 16% to $69.7 billion. Google said currency
exchange rates lowered revenue by 4.3% or nearly $2.7 billion.

Analysts had predicted Google earnings of $1.27 per share on revenue of
$69.62 billion. A year earlier, Google reported earnings of $1.36 per
share on revenue of $61.9 billion.

Meanwhile, advertising revenue rose 11% to $56.29 billion, edging by
estimates of $55.97 billion.

GOOGL stock jumped 5.3% to 110.53 in morning trading on the stock market
today.

"Up against a wall of worry, Google posted surprisingly solid Q2 EPS
results, with revenue largely in-line with street estimates," said Mark Mahaney, analyst at Evercore ISI in a report. "Operating income missed
the street by 3% while ad revenue, primarily search, came in slightly
ahead of expectations and YouTube and Cloud both slightly missed."
[snip]

OH MY. The bad news just keeps rolling in. lol

TB

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

On Wednesday, July 27, 2022 at 12:27:12 PM UTC-7, Technobarbarian wrote:

"Google Earnings Miss Estimates But Internet Search Advertising Holds Up

REINHARDT KRAUSE11:08 AM ET 07/27/2022

Shares in Google-parent Alphabet (GOOGL) jumped Wednesday after the
internet giant posted better-than-feared June quarter results. Revenue
growth at the core digital advertising business of GOOGL stock edged by views, though earnings and revenue missed.

Google's advertising revenue tied to internet search seems resilient, analysts say. Search-related ad revenue rose 14% year-over-year, topping estimates.

"Search continues to be resilient given large number of advertisers and performance nature of ads," said Oppenheimer analyst Jason Helfstein in
a report.

Alphabet reported second quarter earnings after the market close on
Tuesday. Google said second-quarter earnings fell 11% to $1.21 per
share. The company reports earnings under generally accepted accounting principles, also known as GAAP.

GOOGL Stock: Currency Exchange Rate Hit
Also, gross revenue rose 16% to $69.7 billion. Google said currency
exchange rates lowered revenue by 4.3% or nearly $2.7 billion.

Analysts had predicted Google earnings of $1.27 per share on revenue of $69.62 billion. A year earlier, Google reported earnings of $1.36 per
share on revenue of $61.9 billion.

Meanwhile, advertising revenue rose 11% to $56.29 billion, edging by estimates of $55.97 billion.

GOOGL stock jumped 5.3% to 110.53 in morning trading on the stock market today.

"Up against a wall of worry, Google posted surprisingly solid Q2 EPS
results, with revenue largely in-line with street estimates," said Mark Mahaney, analyst at Evercore ISI in a report. "Operating income missed
the street by 3% while ad revenue, primarily search, came in slightly
ahead of expectations and YouTube and Cloud both slightly missed."
[snip]

OH MY. The bad news just keeps rolling in. lol

TB

Add those Google stockholders to the throng of sufferers thanx to Brandon!

A Profound Econ Booster

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)