Google Stock Gains on Rosy Q4 Earnings, Stock Split News – Tech Earnings Results
ALPHABET, INC., GOOGLE, EARNINGS, 20-1 STOCK SPLIT, PAYPAL – TALKING POINTS
- Alphabet Inc. reports rosy fourth-quarter earnings, stock rises more than 7% after hours
- Strong advertising and cloud revenues are helping to lift other tech stocks after the bell
- 20-for-1 stock split to trigger in July, which may help retail investors buy more Google shares
- PayPal shares drop over 10% in after-hours trading on revenue outlook miss, payment volumes
Google Stock Gains: Alphabet Inc., the parent company of Google, reported strong corporate earnings for the fourth quarter, sending the stock higher in after-hours trading. The tech titan saw Q4 earnings per share (EPS) of $30.69 versus an expected $27.35 on an adjusted basis, according to Bloomberg estimates. Q4 revenues (ex-TAC) totaled $61.90 billion, beating an expected $59.37 billion.
Investors appeared encouraged on the news of a 20-for-1 stock split, which will reduce the price per share of stock. That could encourage more retail buying, as the lower share price allows greater access to investors with smaller accounts. The split will occur in July. Google’s YouTube revenue from advertising came in a little light at $8.63 billion versus street estimates of around $8.8 billion.
Cloud revenues were stronger than expected at $5.54 billion. Traffic acquisition costs (TAC) totaled $13.43 billion, which is what Alphabet pays for web traffic to other websites. The rosy results appear to be lifting sentiment, with shares of Meta and Twitter also higher after the bell. Total advertising revenue rose to $61.24 billion, up from $46.2 billion this time last year.
GOOGLE 3-MINUTE CHART
PAYPAL Q4 EARNINGS-Google Stock Gains
- Total Payment Volume: $339.53 billion vs estimated $343.47 billion, per BBG
- Sees 2022 adjusted EPS of $4.60 to $4.75 vs estimated $5.23
- PYPL shares down over 10% in after-hours trading, likely due to outlook miss
PAYPAL HOLDING, INC – 3 MINUTE CHART
To contact , use the comments section below or Or send us a message via the following link in Telegram
Our Instagram: https://www.instagram.com/wavesscoutforex/
Our Facebook: facebook.com/wavesscoutforex
Our YouTube: https://www.youtube.com/channel/UCKbiM6weiKlVKUYLcS6ID-A