News Formal

Alphabet Stock Surges 10% on Back of Blowout Earnings

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

The strong report led at least nine Wall Street firms to raise their price target on the stock.

Alphabet reported earnings per share of $30.69, compared to the $27.34 expected, according to Refinitiv. It also posted a large revenue beat, coming in at $75.33 billion compared to the $72.17 billion estimated.

The company relies heavily on Google's advertising revenue, which jumped in the quarter. Revenue for the segment came in at $61.24 billion for the quarter, up 33% from $46.2 billion in the same period a year earlier. "Very robust advertising revenue growth implies the overall demand environment has stayed healthy amidst volatile supply chain and macro uncertainties," MKM Managing Director Rohit Kulkarni said in a note to investors.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alphabet, AT&T, Tesla, Moderna: What to Watch When the Stock Market Opens TodaySony’s U.S.-listed shares rose premarket after the company’s videogame unit said it was buying Bungie; Cabot rose after lifting guidance.
Source: WSJ - 🏆 98. / 63 Read more »

5 Things to Know Before the Stock Market Opens TuesdayU.S. stock futures pointed to a relatively flat open for the first trading day of February.
Source: nbcchicago - 🏆 545. / 51 Read more »