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Alphabet (GOOGL) to Boost Search Portfolio With Public Profiles
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Alphabet (GOOGL - Free Report) is leaving no stone unturned to expand its Search offerings in a bid to boost its web browsing traffic.
Per a 9to5Google report, Alphabet’s division Google recently announced the upcoming roll-out of public, searchable “profiles” in Search.
Google will use these user profiles to accumulate reviews and search notes linked to one’s account and display them publically.
This upcoming addition will simplify users’ review management for movies and TV shows, providing control to make or delete reviews and edit or delete them privately.
Alphabet strives to boost the user experience and functionality of its search engine with these public profiles.
Per a Dataintelo report, the global search engine market is expected to reach $507.4 billion by 2032, indicating a CAGR of 11% between 2024 and 2032. Alphabet is well-poised to capitalize on this solid growth opportunity on the back of its growing Search initiatives.
Alphabet added a “Listen to this page” text-to-speech feature on Google Chrome, enabling users to hear texts on web pages. This new feature will support several languages including Arabic, Bengali, English, French, Chinese, German, Hindi, and Portuguese, to name a few.
Google’s launch of Circle to Search allows users to now circle what they see on their Android screens, ask a question about an image or object in a video, and get an AI overview with Lens.
Alphabet’s growing focus to enhance its Search Generative Experience (SGE), which replaces traditional search results with AI-generated insights, is opening up new opportunities for advertisers as it introduced new ad formats, including Search and Shopping ads alongside Search results in SGE.
These efforts to boost users’ Search experience are expected to accelerate daily user activity on Search. This, in turn, will continue aiding Google in sustaining its dominance against the likes of Microsoft (MSFT - Free Report) and Baidu (BIDU - Free Report) , which are also making concerted efforts to boost their presence in the search engine market.
Microsoft is benefiting from its launch of the AI-powered Bing search engine and Edge browser to deliver a better search experience, more complete answers, a new chat experience, and the ability to generate content.
Baidu, on the other hand, has enhanced its search engine experience with the launch of its AI chatbot, ERNIE Bot, which can interact with people, answer questions and queries, assist in the creation, and help users obtain information and knowledge efficiently.
Wrapping Up
A strong Search portfolio, along with its robust Android and YouTube offerings, will drive the Google Services segment’s performance, which has been a key growth catalyst for the company. Alphabet’s shares have rallied 28.7% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s growth of 24.6%.
In the first quarter of 2024, the Google Services segment increased 13.6% year over year to $70.4 billion, which accounted for 87.4% of the total revenues.
The Zacks Consensus Estimate for 2024 total revenues stands at $291.26 billion, indicating year-over-year growth of 13.6%.
The consensus mark for 2024 earnings is pegged at $7.60 per share, indicating a 31.03% rise from the year-ago figure. The figure has been revised upward by 11.92% in the past 60 days.
Zacks Rank & Another Stock to Consider
Currently, Alphabet sports a Zacks Rank #1 (Strong Buy).
Image: Bigstock
Alphabet (GOOGL) to Boost Search Portfolio With Public Profiles
Alphabet (GOOGL - Free Report) is leaving no stone unturned to expand its Search offerings in a bid to boost its web browsing traffic.
Per a 9to5Google report, Alphabet’s division Google recently announced the upcoming roll-out of public, searchable “profiles” in Search.
Google will use these user profiles to accumulate reviews and search notes linked to one’s account and display them publically.
This upcoming addition will simplify users’ review management for movies and TV shows, providing control to make or delete reviews and edit or delete them privately.
Alphabet strives to boost the user experience and functionality of its search engine with these public profiles.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing Search Initiatives Aid Google Services
Per a Dataintelo report, the global search engine market is expected to reach $507.4 billion by 2032, indicating a CAGR of 11% between 2024 and 2032. Alphabet is well-poised to capitalize on this solid growth opportunity on the back of its growing Search initiatives.
Alphabet added a “Listen to this page” text-to-speech feature on Google Chrome, enabling users to hear texts on web pages. This new feature will support several languages including Arabic, Bengali, English, French, Chinese, German, Hindi, and Portuguese, to name a few.
Google’s launch of Circle to Search allows users to now circle what they see on their Android screens, ask a question about an image or object in a video, and get an AI overview with Lens.
Alphabet’s growing focus to enhance its Search Generative Experience (SGE), which replaces traditional search results with AI-generated insights, is opening up new opportunities for advertisers as it introduced new ad formats, including Search and Shopping ads alongside Search results in SGE.
These efforts to boost users’ Search experience are expected to accelerate daily user activity on Search. This, in turn, will continue aiding Google in sustaining its dominance against the likes of Microsoft (MSFT - Free Report) and Baidu (BIDU - Free Report) , which are also making concerted efforts to boost their presence in the search engine market.
Microsoft is benefiting from its launch of the AI-powered Bing search engine and Edge browser to deliver a better search experience, more complete answers, a new chat experience, and the ability to generate content.
Baidu, on the other hand, has enhanced its search engine experience with the launch of its AI chatbot, ERNIE Bot, which can interact with people, answer questions and queries, assist in the creation, and help users obtain information and knowledge efficiently.
Wrapping Up
A strong Search portfolio, along with its robust Android and YouTube offerings, will drive the Google Services segment’s performance, which has been a key growth catalyst for the company. Alphabet’s shares have rallied 28.7% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s growth of 24.6%.
In the first quarter of 2024, the Google Services segment increased 13.6% year over year to $70.4 billion, which accounted for 87.4% of the total revenues.
The Zacks Consensus Estimate for 2024 total revenues stands at $291.26 billion, indicating year-over-year growth of 13.6%.
The consensus mark for 2024 earnings is pegged at $7.60 per share, indicating a 31.03% rise from the year-ago figure. The figure has been revised upward by 11.92% in the past 60 days.
Zacks Rank & Another Stock to Consider
Currently, Alphabet sports a Zacks Rank #1 (Strong Buy).
Another top-ranked stock in the broader technology sector is Arista Networks (ANET - Free Report) , sporting the a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks’ shares have gained 30.6% in the year-to-date period. The long-term earnings growth rate for ANET is pegged at 15.68%.