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Alphabet (GOOGL) to Report Q1 Earnings: What's in the Cards?
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Alphabet (GOOGL - Free Report) is scheduled to report first-quarter 2023 results on Apr 25.
For the quarter, the Zacks Consensus Estimate for revenues is pegged at $56.95 billion, indicating an improvement of 1.6% from the year-ago reported number.
The consensus mark for earnings is pegged at $1.06, indicating a 13.8% decline from the previous year’s reported figure. Notably, the figure has moved 0.9% upward over the past seven days.
The company missed the Zacks Consensus Estimate in all the trailing four quarters, delivering a negative earnings surprise of 8%, on average.
Strength in Search & YouTube Amid Sluggish Ad Business
A slowdown in advertisement spending is likely to have continued impacting the company’s first-quarter performance. Weakening momentum across YouTube and Network advertising is likely to have been a major headwind for the company.
Alphabet’s growing efforts toward strengthening its search engine on the heels of its robust language models might have contributed well. Language models like BERT and MUM are expected to have continued improving the search results during the first quarter.
This in turn is expected to have driven traffic on its search platform in the quarter under review.
Technical advancements in Google Assistant and Google Maps are expected to have boosted momentum across search further. This is expected to have contributed well to the performance of Google Services in the to-be-reported quarter.
The growing momentum across its mobile search is anticipated to have been another positive. Also, Google’s growing investments in AI are likely to have continued benefiting its advertisement and search businesses in the to-be-reported quarter.
Rising YouTube subscriptions and solid momentum in YouTube Shorts are expected to have aided the performance of YouTube in the first quarter.
Cloud, Android, Meet & Waymo Efforts to Consider
Alphabet has been significantly gaining momentum in the highly competitive cloud market for a while on the back of its expanding cloud service portfolio and an increasing number of data centers.
The impacts of GOOGL’s go-to-market strategy and strengthening its cloud infrastructure and ecosystem are expected to get reflected in its first-quarter revenues.
The solid adoption of Google Cloud Platform and Google Workspace is likely to have contributed well to the performance of the Google Cloud segment in the to-be-reported quarter.
Google’s strength across Android, Meet and autonomous driving is anticipated to have aided its first-quarter performance.
The growing momentum across Android 13 and Android 12 is likely to have benefited Alphabet’s performance in the to-be-reported quarter.
Google’s persistent efforts to infuse its video conferencing software, Google Meet with advanced features are likely to have bolstered its user base in the quarter to be reported.
The growing prospects around Alphabet’s self-driving unit, Waymo, are expected to have been major tailwinds. The expansion of its ride-hailing operation across multiple locations is expected to have benefited its performance in the to-be-reported quarter.
What Our Model Says
Our proven model predicts an earnings beat for Alphabet this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Alphabet has an Earnings ESP of +7.41% and a Zacks Rank #3 at present.
Other Stocks to Consider
Here are some other companies that too, per our model, have the right combination of elements to post an earnings beat in the soon-to-be-reported quarterly results.
Block (SQ - Free Report) has an Earnings ESP of +5.22% and a Zacks Rank #3 at present.
Block is set to report first-quarter 2023 results on May 4. The Zacks Consensus Estimate for SQ’s earnings is pegged at 31 cents per share, which suggests an increase of 72.2% from the prior-year reported figure.
Bruker (BRKR - Free Report) is scheduled to release first-quarter 2023 results on May 3. The Zacks Consensus Estimate for BRKR’s earnings is pegged at 55 cents per share, which suggests an increase of 12.2% from the prior-year reported figure.
Perficient (PRFT - Free Report) currently has an Earnings ESP of +0.39% and is Zacks #3 Ranked at present.
Perficient is expected to release first-quarter 2023 results on May 2. The Zacks Consensus Estimate for PRFT’s earnings is pegged at $1.04 per share, which suggests an increase of 6.1% from the prior-year reported figure.
Image: Bigstock
Alphabet (GOOGL) to Report Q1 Earnings: What's in the Cards?
Alphabet (GOOGL - Free Report) is scheduled to report first-quarter 2023 results on Apr 25.
For the quarter, the Zacks Consensus Estimate for revenues is pegged at $56.95 billion, indicating an improvement of 1.6% from the year-ago reported number.
The consensus mark for earnings is pegged at $1.06, indicating a 13.8% decline from the previous year’s reported figure. Notably, the figure has moved 0.9% upward over the past seven days.
The company missed the Zacks Consensus Estimate in all the trailing four quarters, delivering a negative earnings surprise of 8%, on average.
Alphabet Inc. Price and EPS Surprise
Alphabet Inc. price-eps-surprise | Alphabet Inc. Quote
Strength in Search & YouTube Amid Sluggish Ad Business
A slowdown in advertisement spending is likely to have continued impacting the company’s first-quarter performance. Weakening momentum across YouTube and Network advertising is likely to have been a major headwind for the company.
Alphabet’s growing efforts toward strengthening its search engine on the heels of its robust language models might have contributed well. Language models like BERT and MUM are expected to have continued improving the search results during the first quarter.
This in turn is expected to have driven traffic on its search platform in the quarter under review.
Technical advancements in Google Assistant and Google Maps are expected to have boosted momentum across search further. This is expected to have contributed well to the performance of Google Services in the to-be-reported quarter.
The growing momentum across its mobile search is anticipated to have been another positive. Also, Google’s growing investments in AI are likely to have continued benefiting its advertisement and search businesses in the to-be-reported quarter.
Rising YouTube subscriptions and solid momentum in YouTube Shorts are expected to have aided the performance of YouTube in the first quarter.
Cloud, Android, Meet & Waymo Efforts to Consider
Alphabet has been significantly gaining momentum in the highly competitive cloud market for a while on the back of its expanding cloud service portfolio and an increasing number of data centers.
The impacts of GOOGL’s go-to-market strategy and strengthening its cloud infrastructure and ecosystem are expected to get reflected in its first-quarter revenues.
The solid adoption of Google Cloud Platform and Google Workspace is likely to have contributed well to the performance of the Google Cloud segment in the to-be-reported quarter.
Google’s strength across Android, Meet and autonomous driving is anticipated to have aided its first-quarter performance.
The growing momentum across Android 13 and Android 12 is likely to have benefited Alphabet’s performance in the to-be-reported quarter.
Google’s persistent efforts to infuse its video conferencing software, Google Meet with advanced features are likely to have bolstered its user base in the quarter to be reported.
The growing prospects around Alphabet’s self-driving unit, Waymo, are expected to have been major tailwinds. The expansion of its ride-hailing operation across multiple locations is expected to have benefited its performance in the to-be-reported quarter.
What Our Model Says
Our proven model predicts an earnings beat for Alphabet this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Alphabet has an Earnings ESP of +7.41% and a Zacks Rank #3 at present.
Other Stocks to Consider
Here are some other companies that too, per our model, have the right combination of elements to post an earnings beat in the soon-to-be-reported quarterly results.
Block (SQ - Free Report) has an Earnings ESP of +5.22% and a Zacks Rank #3 at present.
Block is set to report first-quarter 2023 results on May 4. The Zacks Consensus Estimate for SQ’s earnings is pegged at 31 cents per share, which suggests an increase of 72.2% from the prior-year reported figure.
Bruker (BRKR - Free Report) is scheduled to release first-quarter 2023 results on May 3. The Zacks Consensus Estimate for BRKR’s earnings is pegged at 55 cents per share, which suggests an increase of 12.2% from the prior-year reported figure.
Bruker has an Earnings ESP of +1.21% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Perficient (PRFT - Free Report) currently has an Earnings ESP of +0.39% and is Zacks #3 Ranked at present.
Perficient is expected to release first-quarter 2023 results on May 2. The Zacks Consensus Estimate for PRFT’s earnings is pegged at $1.04 per share, which suggests an increase of 6.1% from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.