Alphabet surpassed Wall Street's expectations

By: Miguel A. Rodriguez

09:45, 14 September 2020

Despite beating the expectations, the revenue dropped

Alphabet's Q2 results came in on the busiest days for tech companies, with Amazon and Apple announcing their financial results as well.

Google’s parent posted revenue of $38.297 billion, 2% lower than last year's $38.944 billion, exceeding the $37.33 consensus. However, this marked its first-ever revenue drop.

The company's net income came in at $6.959 billion, or $10.13/ share, lower than the same time last year of $9.947 billion, or $14.21 EPS. From the EPS perspective, it exceeded $7.94.

Revenue from Google ads slipped 8% to $29.867 billion from $32.494 same quarter last year. One of the biggest beneficiaries of this unprecedented situation was the cloud division, which gained 43% to $3 billion, from last year's $2.1 billion.

YouTube’s non-advertising revenue gained 26% to $5.124 billion, from a previous $4.08 billion. 

In after-hours trading, the stock price went up 0.56%. Since the beginning of the year, the share added 15%.  

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.