Alphabet’s revenue in Q1 came at $69.79 billion, a 3% increase from the year prior, compared to the $68.9 billion expected by analysts polled by Refinitiv. The reported $1.17 in earnings per share also exceeded the estimated mark of $1.07 per share.

The company also performed well in the digital advertising department despite the overall decline across the industry. Google Ad and YouTube Ad revenues came at $54.55 billion and $6.69 billion, respectively, versus expectations of $53.75 billion for Google and $6.64 billion for YouTube. Google Cloud revenue of $7.45 billion failed short of the $7.49 billion expected but turned a profit for the first time.

Alphabet’s earnings report also revealed that its board approved a $70 billion stock buyback and that the company had $2.6 billion in charges related to recent job cuts and office renovations.

“We are pleased with our business performance in the first quarter, with Search performing well and momentum in Cloud,” Alphabet’s CEO Sundar Pichai said in a statement. 

Alphabet’s stock closed at $103.85 per share on Tuesday before seeing a short jump to $108.45 in after-hours trading. The company’s shares are 16.53% up year-to-date.

The post Alphabet Beats Revenue and Earnings Estimates in Q1 appeared first on theprimarymarket.com.

The investors probably liked the fact that Alphabet’s ad revenue came at $56.29 billion, beating the expected $56.14 billion. These numbers especially looked good when compared to some previously reported disastrous results, including those from Snap, causing the Alphabet stock to jump up. The company’s shares traded as high as $113.80 on Wednesday, marking a bounce back from the low point of $105.02 per share earlier this week. 

Sharing its Q2 numbers, Alphabet reported total revenue of $69.69 billion versus the $69.9 billion expected. Its adjusted earnings per share (EPS) reached $1.21, while Wall Street experts expected $1.28. Finally, traffic acquisition costs (TAC) came at $12.21 billion vs. an estimated $12.41 billion.

Among other interesting bits of info is YouTube’s poor advertisement performance. The popular video-sharing platform had just a 5% increase in ad sales and came at $7.34 billion in ad revenue versus the $7.52 billion expected. In the same period last year, YouTube had an 84% jump in ad sales.

The post Alphabet Shares Jump Despite Q2 Misses appeared first on theprimarymarket.com.

Alphabet’s revenue in Q1 came at $69.79 billion, a 3% increase from the year prior, compared to the $68.9 billion expected by analysts polled by Refinitiv. The reported $1.17 in earnings per share also exceeded the estimated mark of $1.07 per share.

The company also performed well in the digital advertising department despite the overall decline across the industry. Google Ad and YouTube Ad revenues came at $54.55 billion and $6.69 billion, respectively, versus expectations of $53.75 billion for Google and $6.64 billion for YouTube. Google Cloud revenue of $7.45 billion failed short of the $7.49 billion expected but turned a profit for the first time.

Alphabet’s earnings report also revealed that its board approved a $70 billion stock buyback and that the company had $2.6 billion in charges related to recent job cuts and office renovations.

“We are pleased with our business performance in the first quarter, with Search performing well and momentum in Cloud,” Alphabet’s CEO Sundar Pichai said in a statement. 

Alphabet’s stock closed at $103.85 per share on Tuesday before seeing a short jump to $108.45 in after-hours trading. The company’s shares are 16.53% up year-to-date.

The post Alphabet Beats Revenue and Earnings Estimates in Q1 appeared first on theprimarymarket.com.

The investors probably liked the fact that Alphabet’s ad revenue came at $56.29 billion, beating the expected $56.14 billion. These numbers especially looked good when compared to some previously reported disastrous results, including those from Snap, causing the Alphabet stock to jump up. The company’s shares traded as high as $113.80 on Wednesday, marking a bounce back from the low point of $105.02 per share earlier this week. 

Sharing its Q2 numbers, Alphabet reported total revenue of $69.69 billion versus the $69.9 billion expected. Its adjusted earnings per share (EPS) reached $1.21, while Wall Street experts expected $1.28. Finally, traffic acquisition costs (TAC) came at $12.21 billion vs. an estimated $12.41 billion.

Among other interesting bits of info is YouTube’s poor advertisement performance. The popular video-sharing platform had just a 5% increase in ad sales and came at $7.34 billion in ad revenue versus the $7.52 billion expected. In the same period last year, YouTube had an 84% jump in ad sales.

The post Alphabet Shares Jump Despite Q2 Misses appeared first on theprimarymarket.com.