Alphabet stock outperforming S&P500, strong revenue growth, expected to continue growth

From Nasdaq: 2024-06-25 00:56:05

Alphabet (Google)’s stock (NASDAQ: GOOG) has gained 26% YTD, outperforming the S&P500 index which rose 15% YTD. The stock is currently trading 6% above its fair value of $168. Google’s Q1 2024 revenues increased by 15% y-o-y to $80.54 billion, driven by the Google cloud unit and Google advertising category.

In FY 2023, Google’s top-line revenue increased by 9% y-o-y to $307.4 billion, with strong growth in various segments. The company’s net income increased by 23% y-o-y to $73.8 billion, and the operating margin improved slightly for the year.

For Q2 2024, consensus estimates for Google’s revenues and earnings are $78.28 billion and $1.71, respectively. The company is forecasted to reach $327.60 billion in revenues in FY 2024 with a net income of $84.7 billion.

The Trefis Reinforced Value Portfolio has provided consistent returns over the years, outperforming the S&P 500 with a cumulative total return of 658% from 2017 to 2024. Google has seen strong gains over the years, including a 360% return from 2017 to 2024.

Google’s stock has shown significant growth over the years, with returns of 2% in June 2024, 26% YTD in 2024, and a total return of 360% from 2017 to 2024. Comparatively, the S&P 500 saw returns of 4% in June 2024, 15% YTD in 2024, and a total return of 144% from 2017 to 2024.



Read more at Nasdaq: Alphabet Stock IS Beating S&P500 By 11% YTD, Where Is It Headed?