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Alphabet (GOOGL) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Alphabet (GOOGL - Free Report) reported $71.36 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 15%. EPS of $1.89 for the same period compares to $1.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $70.6 billion, representing a surprise of +1.07%. The company delivered an EPS surprise of +2.16%, with the consensus EPS estimate being $1.85.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): $13.39 billion versus the 13-analyst average estimate of $13.55 billion.
Headcount (Number of employees): 179,582 compared to the 180,885 average estimate based on four analysts.
Revenues- EMEA: $24.68 billion compared to the $23.24 billion average estimate based on three analysts. The reported number represents a change of +10.7% year over year.
Revenues- United States: $41.20 billion versus $38.55 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.5% change.
Revenues- Other Americas (Canada and Latin America): $4.94 billion versus $8.07 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +9.5% change.
Revenues- APAC: $13.82 billion compared to the $13.39 billion average estimate based on three analysts. The reported number represents a change of +8.6% year over year.
Revenues- Google properties: $57.17 billion compared to the $56.38 billion average estimate based on 12 analysts. The reported number represents a change of +13.7% year over year.
Revenues- Google Cloud: $10.35 billion compared to the $10.08 billion average estimate based on 11 analysts. The reported number represents a change of +28.8% year over year.
Revenues- YouTube ads: $8.66 billion compared to the $8.88 billion average estimate based on 11 analysts. The reported number represents a change of +13% year over year.
Revenues- Google advertising: $64.62 billion compared to the $64.28 billion average estimate based on 11 analysts. The reported number represents a change of +11.1% year over year.
Revenues- Google Search & other: $48.51 billion versus the 11-analyst average estimate of $47.46 billion. The reported number represents a year-over-year change of +13.8%.
Revenues- Google Network: $7.44 billion compared to the $7.93 billion average estimate based on 11 analysts. The reported number represents a change of -5.2% year over year.
Shares of Alphabet have returned +1.4% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Alphabet (GOOGL) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Alphabet (GOOGL - Free Report) reported $71.36 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 15%. EPS of $1.89 for the same period compares to $1.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $70.6 billion, representing a surprise of +1.07%. The company delivered an EPS surprise of +2.16%, with the consensus EPS estimate being $1.85.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): $13.39 billion versus the 13-analyst average estimate of $13.55 billion.
- Headcount (Number of employees): 179,582 compared to the 180,885 average estimate based on four analysts.
- Revenues- EMEA: $24.68 billion compared to the $23.24 billion average estimate based on three analysts. The reported number represents a change of +10.7% year over year.
- Revenues- United States: $41.20 billion versus $38.55 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.5% change.
- Revenues- Other Americas (Canada and Latin America): $4.94 billion versus $8.07 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +9.5% change.
- Revenues- APAC: $13.82 billion compared to the $13.39 billion average estimate based on three analysts. The reported number represents a change of +8.6% year over year.
- Revenues- Google properties: $57.17 billion compared to the $56.38 billion average estimate based on 12 analysts. The reported number represents a change of +13.7% year over year.
- Revenues- Google Cloud: $10.35 billion compared to the $10.08 billion average estimate based on 11 analysts. The reported number represents a change of +28.8% year over year.
- Revenues- YouTube ads: $8.66 billion compared to the $8.88 billion average estimate based on 11 analysts. The reported number represents a change of +13% year over year.
- Revenues- Google advertising: $64.62 billion compared to the $64.28 billion average estimate based on 11 analysts. The reported number represents a change of +11.1% year over year.
- Revenues- Google Search & other: $48.51 billion versus the 11-analyst average estimate of $47.46 billion. The reported number represents a year-over-year change of +13.8%.
- Revenues- Google Network: $7.44 billion compared to the $7.93 billion average estimate based on 11 analysts. The reported number represents a change of -5.2% year over year.
View all Key Company Metrics for Alphabet here>>>Shares of Alphabet have returned +1.4% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.