'Put It In The Louvre:' Tech Bull Praises Google Parent Alphabet's 'Major Breakout Quarter,' Says It Is 'Now In The Party'
Portfolio Pulse from Rounak Jain
Wedbush's Dan Ives praised Alphabet Inc (GOOG, GOOGL) for its 'major breakout quarter' after beating revenue and EPS estimates for Q1 2024, declaring its first-ever dividend, and showing positive growth and margin implications. Alphabet's revenue increased 15% year-over-year to $80.539 billion, surpassing estimates, with an EPS of $1.89. The company's focus on AI and cloud, along with the development of Gemini AI, was highlighted. Shares were up 11.80% in premarket trading.
April 26, 2024 | 1:06 pm
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POSITIVE IMPACT
Alphabet Inc's GOOG stock is likely to see positive short-term movement after a strong Q1 2024 earnings report, beating revenue and EPS estimates, and declaring its first-ever dividend.
The positive earnings report, revenue and EPS beat, and the announcement of the first-ever dividend are significant positive indicators for investors. The focus on AI and cloud growth further strengthens the bullish outlook for GOOG in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Alphabet Inc's GOOGL stock is expected to experience upward momentum following an impressive Q1 2024 earnings performance, exceeding revenue and EPS forecasts, and issuing its first dividend.
GOOGL's strong Q1 2024 results, including beating revenue and EPS expectations and the declaration of a first-ever dividend, signal a strong short-term bullish sentiment. The emphasis on AI and cloud advancements adds to the positive outlook.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100