Alphabet (GOOG) Second Quarter 2023 Report
Alphabet’s parent company revenue reached $74.6 billion, a 7% increase compared to the previous year. Net income rose by 15% to $18.27 billion, and operating profit grew by 12% to $21.84 billion. Earnings per share (EPS) under GAAP standards stood at $1.44, a 19% increase from the previous year.
Notably, Google Cloud’s operating profit reached $395 billion, a significant improvement compared to the -$590 billion from the previous year. This indicates the growth and development of the company’s cloud business.
Despite competition from TikTok, YouTube’s advertising revenue in the second quarter increased by 4.4% to $7.67 billion, surpassing analysts’ expectations of around $7.43 billion.
These results exceeded investor expectations and may generate greater interest in the company’s shares. In the first half of the current year, Alphabet (Google) earned $33.4 billion, a 3% increase in net income. This is positive news for the company and could lead to a rise in stock prices.
Table of Alphabet (GOOG) Second Quarter 2023 Report Results:
|Revenue||$74.60 billion||↑ +7%|
|Net Income||$18.27 billion||↑ +15%|
|Operating Profit||$21.84 billion||↑ +12%|
|EPS GAAP||$1.44||↑ +19%|
In summary, Alphabet (GOOG) demonstrated strong financial results in the second quarter of 2023, surpassing analysts’ expectations. The growth in revenue, net income, and operating profit, as well as the improvement in Google Cloud and YouTube advertising, contribute to increased investor interest in the company’s shares.