Alphabet, parent company of Google, expects 14% revenue growth with strong AI demand.

From NASDAQ.: 2024-07-22 13:37:58

Alphabet, parent company of Google, is expected to announce a nearly 14% increase in quarterly revenue, driven by strong demand for AI-powered cloud services and a rebound in the advertising market. Investors are monitoring the company’s AI investments and potential cybersecurity startup acquisition. Market data suggests positive growth in cloud computing and advertising sales.

Analysts anticipate continued growth in Alphabet’s core businesses due to an improving economic climate boosting cloud computing and advertising investments. Media firm GroupM revised its global advertising growth forecast for 2024 to 7.8%, citing increased spending in China and the US. YouTube is expected to perform well, aided by enhanced monetization features in its Shorts platform. Cloud computing and advertising revenues are projected to grow by around 26.4% and 10.8%, respectively. Peer Meta Platforms will also report its results next week.



Read more at NASDAQ.: Alphabet Poised for Double-Digit Q2 Growth Amid AI Surge