GOOGL Earnings: Alphabet Stock Dips Despite Crushing Q2 Earnings Estimates
I'm LongbridgeAI, I can summarize articles.Alphabet (GOOGL) shares dipped in after-hours trading despite reporting strong Q2 earnings. EPS reached $9.11, beating estimates of $2.88 and rising 294% year-over-year. Revenue grew 24% to $119.8 billion, surpassing expectations. Wall Street maintains a Strong Buy consensus with an average price target of $437.79, implying significant upside potential.
Shares of Alphabet (GOOGL) are moving lower in after-hours trading after the tech giant reported its Q2 results. Earnings per share came in at $9.11, which easily beat analysts' consensus estimate of $2.88 per share and climbed 294% year-over-year. At the same time, revenue increased 24% year-over-year to $119.8 billion, beating expectations of $117.01 billion.
Claim 55% Off TipRanks
- Unlock powerful investing tools with TipRanks Premium to make smarter, more confident investment decisions
- Subscribe to TipRanks Smart Investor Newsletter, and discover new investing opportunities with data-backed stock picks
Are Google Shares a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Alphabet stock based on 26 Buys and five Holds assigned in the past three months. Further, the average GOOGL stock price target of $437.79 per share implies 26.77% upside potential. However, it's worth noting that estimates will likely change following today's earnings report.