Alphabet (GOOGL) expected to report higher earnings and revenues, but challenging to predict.

From Nasdaq: 2024-07-16 10:00:50

Alphabet (GOOGL) is expected to report higher earnings and revenues for the quarter ended June 2024 on July 23. Analysts predict earnings of $1.85 per share, up 28.5%, and revenues of $70.55 billion, up 13.7% from last year. The earnings report will significantly impact the stock price based on actual results compared to estimates.

The Zacks Earnings ESP model predicts potential earnings surprises by comparing Most Accurate Estimate to Consensus Estimate. A positive ESP combined with a Zacks Rank of 1, 2, or 3 increases the chance of an earnings beat. Alphabet currently carries a Zacks Rank of 3 with an Earnings ESP of 0%, making it challenging to predict an EPS beat based on historical surprise data.

Alphabet has beaten consensus EPS estimates in the last four quarters. However, past performance doesn’t guarantee future success. Other factors can influence stock movement post-earnings. While Alphabet may not be a strong earnings-beat candidate, investors should consider various factors before deciding to buy or sell the stock ahead of its earnings release.

For more information and detailed analysis, visit Zacks Investment Research for insights and recommendations. Stay informed with the latest updates on Alphabet’s earnings performance using the Zacks Earnings Calendar.



Read more at Nasdaq: Alphabet (GOOGL) Reports Next Week: Wall Street Expects Earnings Growth