Forecasting Google Parent Alphabet Q2 Earnings Report Performance

On Monday, the price of Alphabet Inc.‘s shares increased. On Tuesday, which means today, Alphabet will announce its quarterly financial results. Analyst estimates for the company’s second quarter of the 2024 fiscal year show that sales will be $84.20 billion and EPS will be $1.85, according to statistics.

• Alphabet’s stock is presently trading at $183.35, above its 50-day moving average of $178.32.
• Furthermore, it is moving up towards the top of its 52-week range, which is $118.22 to $191.75.
• Compared to its average session volume of 24.95 million, the company is currently trading at a session volume of just 4.51 million.

Google Cloud’s Growth Could Alleviate AI Investment Concerns for Investors

Based on projections provided by Visible Alpha, the IT giant is expected to announce sales of $84.3 billion, which represents a 13% increase over the same period last year. It is anticipated that net income will reach $23 billion, or $1.85 per share, up from 2023’s second quarter.

• Investor fears about big tech’s increased investment in AI may be allayed if Google Cloud continues to grow at a steady rate, as the cloud segment’s revenue is expected to do.
• Consensus forecasts from Visible Alpha indicate that analysts anticipate cloud revenue of $10.22 billion, which would be an increase over the same period last year and the previous quarter.

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