Alphabet delivers big earnings beat in third quarter

Mobile Shoppers Can Now ‘Pay With Google

Mobile Shoppers Can Now ‘Pay With Google

Net income increased to $6.73 billion, or $9.57 per share, from $5.06 billion, or $7.25 per share.

A number of other hedge funds have also recently modified their holdings of GOOGL.

ILLEGAL ACTIVITY WARNING: "Alphabet Inc". Canada Pension Plan Investment Board now owns 874,328 shares of the company's stock worth $615,116,000 after buying an additional 326,759 shares during the period. Boston Partners raised its stake in shares of Alphabet by 150.0% in the second quarter. Finally, Mizuho reiterated a "buy" rating on shares of Alphabet in a research report on Tuesday, October 17th.

Heading into the earnings release, covering analysts have a consensus target price of $1053.50 on Alphabet Inc. shares. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of USA and global trademark and copyright laws. UBS Group AG restated a "buy" rating and issued a $1,080.00 price objective on shares of Alphabet in a report on Monday, September 11th.

Google's parent company, Alphabet, had yet another highly successful financial report. If you are accessing this story on another site, it was stolen and reposted in violation of worldwide copyright & trademark legislation. They noted that the move was a valuation call. The stock now has a consensus rating of Buy and a consensus target price of $926.27. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the stock. Analysts anticipate that Alphabet Inc. will post $30.63 EPS for the current fiscal year.

Aggregate cost per click - which had been in a downward spiral over the past year and a half - fell 18% year-over-year, but actually rose 1% sequentially. During the same quarter in the previous year, the company posted $8.42 EPS.

Meantime, Google is aiming to diversify from its advertising business, the largest in the world, by creating new revenue streams from sales of smartphones and cloud services.

Operating loss for Other Bets, which includes other Alphabet companies like X, Nest, and Waymo, was $812 million.

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