Sundar Pichai opens $GOOGL earnings call by saying “I really encourage everyone to get the vaccine when it’s available to you.”

 

Alphabet Inc. (GOOGL), parent of search giant Google, is enjoying some its highest earnings and revenue growth rates in recent years. Sundar Pichai, CEO of Google and Alphabet, said: “In Q2, there was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses. Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience.”

  • Revenue of $61.88B (+61.6% Y/Y) beats by $5.8Billion
  • Google Services revenue of $57.06B vs. $51.95B consensus, TAC of $10.91B vs. $9.07B

 

“Our strong second-quarter revenues of $61.9 billion reflect elevated consumer online activity and broad-based strength in advertiser spend,” Alphabet Chief Financial Officer Ruth Porat said in a statement

search led the way with $35.85 billion in sales, compared with $21.3 billion in the same quarter a year ago. YouTube ad sales surged 84% year-over-year to $7 billion.

Most analysts seem highly optimistic about smartphone sales, following an outstanding post-holiday quarter.

 

Search was the big breadwinner, again, with $31.9 billion in sales, compared with $24.5 billion in the same quarter a year ago. YouTube ad sales jumped 49% year-over-year to $6 billion.

CWEB Analyst’s have initiated a Buy Rating for Google (GOOGL)   and potential upside of $3500 by 2021. Search was the big breadwinner compared with $24.5 billion in the same quarter a year ago.

 

 

 


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