Alphabet Earnings Beat Expectations, Stock Falls in After-Hours
Alphabet, the parent company of Google, has reported strong earnings, with earnings per share and revenue exceeding expectations. Despite this, the company's google stock fell in after-hours trading. The results have prompted investment firms, including Goldman Sachs, to raise their price targets.
Alphabet reported earnings per share of $1.89, four cents above analyst predictions. Revenue also surpassed expectations, reaching $84.7 billion, marking a 13.6 percent increase year-over-year. Following these results, some investment firms have raised their price targets. Goldman Sachs, for instance, has increased its target to $2,800.
Analysts, on average, see a 6.8 percent upside for Alphabet stock. BÖRSE ONLINE, a German financial media company, recommends buying Alphabet stock with a price target of 200 euros. However, it's worth noting that BÖRSE ONLINE's latest specific price target for Alphabet was not found in recent search results.
YouTube's ad sales, however, came in below expectations at $8.66 billion. Despite this, the overall results were positive, leading to mixed reactions in the stock market.
Alphabet's earnings and revenue beat expectations, driving investment firms to raise their price targets. However, the google stock fell by two percent in after-hours trading, suggesting a mixed investor sentiment. The CEO of Börsenmedien AG has positions in Alphabet that could potentially benefit from future price developments.
