. The company reported earnings per share of $1.89 versus an estimate of $1.84. Revenue of $84.74 billion topped estimates of $84.37 billion, while revenue ex-TAC of $71.36 billion was better than the Street's expectations of $70.7 billion. CFRA Research senior equity analyst Angelo Zinobut notes that the it fell short of the significant beats investors have come to expect from Big Tech, describing it as"more of an in-line type quarter."per share of $0.
And now just trying to, uh, I guess, fight through a lot of the price memory that exists all the way up to the 80 level.Uh, we're just getting news out from alphabet or earnings out from alphabet. There, uh, the company says that it still sees notably lower volume growth, uh, for 2024 that the rate volume growth will be lower for 2024 and the company is remaining focused on company wide cost reductions.Plans for new vehicles, it says, remain on track.
I mean, I, I think investors in recent quarters have kind of been hoping or looking for kind of these nice, beaten raises out of some of these big tech names. So, um, you know, overall, you know, when you kind of look at them on a kind of operating segment perspective, you know, some mixed results there at least relative to expectations, But nonetheless, I would kind of call it solid.I think that's really an under underappreciated story.They pro, you know, posted operating margins, I believe about 32% or so, Um, kind of the highest level they've had since kind of Post Pan.
You know, I think it it's I think it's possible that, you know, some of some analysts out there might have gotten a little bit kind of, um, overly optimistic after their kind of YouTube strong beat at Q one results they they grew north of, uh, 20%.Digital ads been continue to be very healthy.You know, we think there are a lot of kind of opportunities for them to monetize.
So you're seeing a kind of, you know, support better than expected numbers on the cloud side of things. I mean, listen, I think, uh, cyber security is kind of a huge growth opportunity out there, specifically on the cloud side of things. So, um, you know, it's not something that kind of has necessarily an impact on how we're looking at the stock over the next 12 to 18 months, but I think kind of if this deal could have gotten done, um, it definitely would have been a kind of nice, incremental growth opportunity for that cloud business.
Yeah, So there's a good chance that the robo taxi stuff and maybe more around the timing of the production of the next Gen vehicle.But that leads me to ask. So it's a reason why Tesla and and many others are really trying hoping for uh, those IRA credits to remain, Um and and that's what would cause the deliveries to inflect next year.Uh, it's a lot of jobs, right?
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