Google’s Parent Alphabet to Release Q2 Earnings Report

Alphabet, the parent company of Google, is set to unveil its second-quarter results after the market closes on Tuesday. Investors are eagerly awaiting the report and subsequent commentary from management, hoping to gain insights into the state of the advertising market, trends in cloud spending, and updates on artificial intelligence investments.

According to Wall Street analysts surveyed by FactSet, Q2 earnings per share are expected to be $1.34, with sales reaching $72.86 billion. Of this, Google advertising revenue is projected to be $57.45 billion, while cloud revenue is estimated to be $7.87 billion.

Despite a challenging year for advertisers, Alphabet shares have remained resilient. The stock has seen a 38% increase year-to-date and a 13% increase over the past 12 months. Numerous analysts have recently revised their expectations for the stock, resulting in an average price target of $134.94 on FactSet.

One of the driving factors behind the stock’s recent performance is the excitement surrounding generative artificial intelligence. Investors will be closely monitoring any updates on this topic as they seek out tech companies well-positioned for the anticipated $800 billion AI Revolution over the next decade.

While it may still be too early to determine clear winners and losers in the AI space, investors will eagerly seize any additional information available.