Alphabet’s earnings and revenue beat estimates. Stock market applauds with rally – Technologies

Alphabet – which replaced Google on the stock exchange and which owns it 100% – reported this Thursday night the results of its first fiscal quarter, which were above what was expected.

The technology company’s revenues increased 15% and amounted to US$80.54 billion, compared to US$69.8 billion between January and March 2023. The average consensus estimate of analysts surveyed by Bloomberg pointed to US$79.04 billion.

In turn, the net result was 23.66 billion dollars, or 1.89 dollars per share – compared to 15.05 billion in the same period of the previous year. Earnings per share were also above the market’s average projection of $1.53.

YouTube’s revenues were also above expectations: they amounted to US$8.09 billion, when analysts expected US$7.73 billion. Those for Google Services were also higher than expected (70.40 billion dollars, against 69.06 billion estimated), as well as those for Google Cloud (9.57 billion, against 9.37 billion predicted).

Google’s advertising revenue was US$61.66 billion, above the US$61.18 billion projected by analysts surveyed by Bloomberg.

Investors liked the accounts presented and Alphabet continues to climb 12.17% to $176.88 in after-hours trading, when at the close of the regular session this Thursday it lost 1.96% to $157.95.