Alphabet, the parent company of Google, released second-quarter earnings and revenue data after the bell on Tuesday.
Analyst projections were met for revenue and profitability, but YouTube advertising revenue was not met. In after-hours trading, Alphabet’s stock fell by almost 2%.
Here’s how the business performed in comparison to LSEG-polled analyst estimates:
Earnings: $1.89 per share versus the anticipated $1.84per share
Income: $84.74 billion compared to the projected $84.19 billion These other figures were observed
Wall Street: StreetAccount reports that YouTube’s advertising revenue was $8.66 billion as opposed to $8.93 billion.
StreetAccount reports that Google Cloud’s revenue was $10.35 billion as opposed to $10.20 billion.
Traffic acquisition costs (TAC) were $13.39 billion as opposed to $13.54 billion. Driven by cloud and search, Alphabet’s sales increased by 14% year over year to reach $10 billion in quarterly revenues and $1 billion in operational profit for the first time.
Source (CNBC)
