After the close, Google parent Alphabet (GOOG) is scheduled to report 1Q22 results with an earnings conference call following at 5:00 p.m. ET.
Google is expected to report EPS and revenue of $25.54 and $67.9 bln, respectively.
SNAP mentioned supply chain constraints, labor shortages, and the war in Ukraine as notable headwinds facing its advertising partners so it will be interesting to see if Alphabet has similar issues.
GOOG has blown out EPS and revenue estimates in each of the past seven quarters.
Last quarter, advertising revenue jumped by 32% to $61.2 bln.
Google Cloud has consistently churned out solid and steady growth (+45% in Q4) so a dip there would be bad.
TECHS:
Google’s stock has been falling lower ahead of the print, falling by 16% since the end of March. This weakness was exacerbated by Snap's (SNAP) disappointing earnings report on April 21, which included downside revenue guidance for Q2. Beyond falling short of top-line expectations, the main concern is that SNAP is forecasting revenue growth to slow to 20-25% in Q2, from 38% last quarter and 42% in 3Q21.
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