Alphabet (Google) Reports Q2 Results
Jul 23, 2024
Alphabet's (e.g. Google's) Q2 results were strong, with a 13.5% increase in revenues and profitability improvements to boot. Cloud led the way, growing 29% year-over-year and surpassing $10 billion in a quarter for the first time. Advertising grew 11% (it remains 76% of total sales), and subscriptions/platforms/devices were up 14%. Google is a pretty steady, predictable stalwart at this point, paying a small dividend and buying back shares consistently. I'm raising the fair value a few bucks to $123, but the stock is still too expensive to buy.
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Watch List
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| PSTG | -1.39% |
| WDAY | -5.41% |
| VEEV | 19.23% |
| INTU | 20.20% |
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Buy List
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Hold List
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| V | -4.82% |
| ADSK | 1.57% |
| NOW | 15.34% |
| MELI | -19.68% |
| FTNT | 1.73% |
| TEAM | 0.14% |
vs. Fair Value Estimates