2024-07-28 04:30:00 ET
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) reported strong second-quarter results, powered by its cloud computing and search offerings. The stock has had a solid year and it was trading up over 30% year to date before the report's release, but it's falling following Alphabet's earnings announcement.
With shares of the search giant slipping since Tuesday, is this an opportunity for investors to buy the dip? Let's take a closer look at its most recent results, together with its future prospects and valuation, to find out.
For its second quarter, Alphabet saw its revenue jump 14% year over year to $84.7 billion. That was just ahead of the $84.2 billion in revenue that analysts expected.
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Alphabet Sees Google Cloud Has Momentum, but the Stock Is Down. Should Investors Buy the Dip?