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Alphabet Stock Falls Despite Earnings Beat

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The Google parent reported revenue of $76.7 billion for its latest quarter, up 11% from a year ago.

Shares of Alphabet fell in after hours trading Tuesday despite stronger-than-expected quarterly results from the Google parent.

Alphabet’s earnings report, due after the close of trading on Tuesday, should provide fresh evidence on the current state of the digital advertising environment—as well as important data points on the strength of the cloud computing business. Analysts are optimistic on both fronts. Likewise, Wedbush analyst Scott Devitt wrote in a recent research note that the setup for digital advertising plays remains positive for the second half, with growth rates continuing to accelerate. He also sees potential for operating margin leverage from cost cuts tied to recent staff reductions.

Another focus for investors will be how YouTube’s debut this season of its NFL Sunday Ticket football package is being received by consumers—and whether it is boosting uptake for the YouTube TV subscription service. And of course there will be multiple questions on the call about how generative artificial intelligence—like the company’s Bard chatbot—are impacting both costs and revenue.

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