3Q Would Be Positive For Google, Meta, And Amazon As User Engagement Surged: Analyst
Portfolio Pulse from Anusuya Lahiri
Truist analyst Youssef Squali has re-rated Alphabet Inc (Google), Meta Platforms Inc, and Amazon.Com Inc ahead of their 3Q results. Squali expects the results to be in line with expectations, driven by cost containment and higher Y/Y margins and profitability. He predicts Google's 3Q gross revenue to be up 8% Y/Y, Meta's 3Q revenue to be $33.5 billion, and Amazon's 3Q top-line estimates for North American revenues to be $84.7 billion.
October 17, 2023 | 6:49 pm
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POSITIVE IMPACT
Amazon's 3Q top-line estimates for North American revenues are expected to be $84.7 billion. The company's Ad Services revenue growth is expected to increase to 22% Y/Y.
The analyst's positive rating and the expected in-line revenue could lead to a short-term increase in Amazon's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Google's 3Q gross revenue is expected to be up 8% Y/Y. The company is expected to remain on the offensive with AI investments.
The analyst's positive rating and the expected increase in gross revenue could lead to a short-term increase in Google's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Meta's 3Q revenue is expected to be $33.5 billion. The company continues to progress in reversing the significant IDFA effects.
The analyst's positive rating and the expected in-line revenue could lead to a short-term increase in Meta's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100