As Google Search's Growth Outpaces That Of YouTube, Alphabet CFO Says 'Really Pleased' With Platform: Here's Why
Portfolio Pulse from Ananya Gairola
Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL) reported second-quarter earnings, meeting analyst estimates but falling short on YouTube advertising revenue. Despite this, YouTube's ad revenue grew year-on-year. Alphabet's overall revenue and earnings surpassed expectations, marking the sixth consecutive quarter of outperformance. However, Alphabet's shares declined in after-hours trading.
July 24, 2024 | 6:14 am
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NEGATIVE IMPACT
Alphabet's Class C shares fell by 2.18% in after-hours trading despite the company surpassing revenue and earnings estimates for the sixth consecutive quarter. The decline is attributed to YouTube's slower ad revenue growth.
The decline in Alphabet's Class C shares is likely due to the market's reaction to YouTube's slower ad revenue growth, despite the overall positive earnings report.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Alphabet's Class A shares declined by 2.19% in after-hours trading. The market reacted negatively to YouTube's slower ad revenue growth, even though Alphabet exceeded overall revenue and earnings expectations.
The decline in Alphabet's Class A shares is likely due to investor concerns over YouTube's slower ad revenue growth, overshadowing the positive earnings report.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100