Yesterday after-market, Google’s parent company, Alphabet, released the Q1 financial reports.
Even though the expectations were set high for the revenue, Alphabet made a nice surprise in the market by surpassing those.
The company's revenue for the first trimester of the year was $41.16 billion compared to the $40.33 billion estimated. The same can't be applied to the EPS as it was below the expected $10.38. The earnings were of $9.87.
Advertising from Google and Youtube brought 82% of the current revenue.
Predictions about the next quarters already flooded the market: due to the pandemic, Google will hire people at a slower pace. Also, the paid ads will drop by 18% in the first half of 2020. Before the pandemic, analysts were talking about an increase of 19%.
During regular trading hours, stocks fell 3.3% but managed to recover 2.8% after-hours. Overall, the stock went up 2.8% in the past year, while USA500 dropped just as much.
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Sources: marketwatch.com, techcrunch.com
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