Alphabet Soup (GOOG GOOGL Earnings)
Google (GOOG GOOGL) parent Alphabet is scheduled to report 2Q22 results after the bell with a conference call following at 5:00 p.m ET.
GOOG is expected to report EPS and revenue of $1.29 and $69.8 bln.
Snap's (SNAP) weak earnings report last week set a negative tone for all internet/social media companies ahead of GOOG's print. GOOGL's 9% decline since then is evidence to the matter.
Rising competition from TikTok is a potential stumbling block for GOOG, and especially for Meta Platforms (META), which is set to report its earnings tomorrow night.
GOOG is coming off an uncharacteristically weak quarter where it missed Q1 EPS estimates by a wide margin. That was the company's first EPS miss since the initial pandemic quarter of 1Q20. Revenue growth also slowed appreciably to 23% from 32% in 4Q21 and 41% in 3Q21.
GOOG is also lapping its most difficult comparison from last year. In 2Q21, advertising revenue and total revenue increased by 69% and 62%, respectively.
Investors want to pay attention and hope that Google Cloud will remain a bright spot after revenue grew by 45% to $5.8 bln in Q1.
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