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Compared to Estimates, Alphabet (GOOGL) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2024, Alphabet (GOOGL - Free Report) reported revenue of $74.55 billion, up 16.4% over the same period last year. EPS came in at $2.12, compared to $1.55 in the year-ago quarter.
The reported revenue represents a surprise of +2.34% over the Zacks Consensus Estimate of $72.85 billion. With the consensus EPS estimate being $1.83, the EPS surprise was +15.85%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Alphabet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total TAC (traffic acquisition costs): $13.72 billion compared to the $13.41 billion average estimate based on 13 analysts.
Headcount (Number of employees): 181,269 compared to the 180,974 average estimate based on four analysts.
Revenues- EMEA: $25.47 billion versus the three-analyst average estimate of $24.42 billion. The reported number represents a year-over-year change of +12.4%.
Revenues- United States: $43.14 billion versus $40.21 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +18.7% change.
Revenues- Other Americas (Canada and Latin America): $5.09 billion versus $7.45 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.9% change.
Revenues- APAC: $14.55 billion versus the three-analyst average estimate of $14.06 billion. The reported number represents a year-over-year change of +10.8%.
Revenues- Google properties: $58.31 billion versus the 12-analyst average estimate of $57.74 billion. The reported number represents a year-over-year change of +12.2%.
Revenues- Google Cloud: $11.35 billion compared to the $10.91 billion average estimate based on 11 analysts. The reported number represents a change of +35% year over year.
Revenues- YouTube ads: $8.92 billion versus $8.86 billion estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +12.2% change.
Revenues- Google advertising: $65.85 billion versus $65.22 billion estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +10.4% change.
Revenues- Google Search & other: $49.39 billion versus the 11-analyst average estimate of $48.84 billion. The reported number represents a year-over-year change of +12.2%.
Revenues- Google Network: $7.55 billion compared to the $7.43 billion average estimate based on 11 analysts. The reported number represents a change of -1.6% year over year.
Shares of Alphabet have returned +0.5% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Alphabet (GOOGL) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2024, Alphabet (GOOGL - Free Report) reported revenue of $74.55 billion, up 16.4% over the same period last year. EPS came in at $2.12, compared to $1.55 in the year-ago quarter.
The reported revenue represents a surprise of +2.34% over the Zacks Consensus Estimate of $72.85 billion. With the consensus EPS estimate being $1.83, the EPS surprise was +15.85%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Alphabet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total TAC (traffic acquisition costs): $13.72 billion compared to the $13.41 billion average estimate based on 13 analysts.
- Headcount (Number of employees): 181,269 compared to the 180,974 average estimate based on four analysts.
- Revenues- EMEA: $25.47 billion versus the three-analyst average estimate of $24.42 billion. The reported number represents a year-over-year change of +12.4%.
- Revenues- United States: $43.14 billion versus $40.21 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +18.7% change.
- Revenues- Other Americas (Canada and Latin America): $5.09 billion versus $7.45 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.9% change.
- Revenues- APAC: $14.55 billion versus the three-analyst average estimate of $14.06 billion. The reported number represents a year-over-year change of +10.8%.
- Revenues- Google properties: $58.31 billion versus the 12-analyst average estimate of $57.74 billion. The reported number represents a year-over-year change of +12.2%.
- Revenues- Google Cloud: $11.35 billion compared to the $10.91 billion average estimate based on 11 analysts. The reported number represents a change of +35% year over year.
- Revenues- YouTube ads: $8.92 billion versus $8.86 billion estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +12.2% change.
- Revenues- Google advertising: $65.85 billion versus $65.22 billion estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +10.4% change.
- Revenues- Google Search & other: $49.39 billion versus the 11-analyst average estimate of $48.84 billion. The reported number represents a year-over-year change of +12.2%.
- Revenues- Google Network: $7.55 billion compared to the $7.43 billion average estimate based on 11 analysts. The reported number represents a change of -1.6% year over year.
View all Key Company Metrics for Alphabet here>>>Shares of Alphabet have returned +0.5% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.