Alphabet Inc. ( NASDAQ:GOOGL ) (Google) issued a disappointing third-quarter report Tuesday. The company’s results were harmed by advertisers’ reduced advertising budgets and the strengthening of the US dollar. Investors are concerned about the deterioration of financial indicators in the context of tightening monetary policy. The advertising market is far from perfect, and there are few prospects for growth in the near future. As a result, Google stock dropped (-9%).
Nonetheless, Google may emerge from the current crisis stronger than before as a business, so I intend to begin building a position in Google stock in the near future. Let’s look at the report to see why Google stock is so appealing at the current price.
Revenue
Google’s revenue growth slowed to a single-digit rate, largely due to the US dollar’s strengthening. Revenue for the quarter was $69 billion, 6% higher than last year but 2% lower than the consensus estimate. Revenue growth was 11%, excluding the impact of the strengthening dollar (51% of revenue comes from regions other than the United States).
Marginality EBITDA (GAAP) was $21.1 billion, down -13...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube