5 Stocks Making Noise After Releasing Their Earnings Reports

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) recently caught investors’ attention after delivering another solid quarter. The tech giant reported massive earnings of $27.99 per share for the three months ended 30 September 2021, crushing the consensus forecast of $23.470 per share.

Revenue came in at $65.1 billion, ahead of analysts’ average estimate of $63.450 billion. Alphabet Inc. (NASDAQ:GOOG) had posted earnings of $16.40 per share on revenue of $46.2 billion for the comparable period of 2020.

If we see the performance of flagship businesses, Google’s total advertisement revenue climbed 43 percent on a year-over-year basis to $53.1 billion. Advertisement revenue from YouTube came in at $7.2 billion, up from $5 billion in the year-ago quarter, while Search revenue in the quarter increased to $37.9 billion versus $26.3 billion last year. In comparison, Cloud revenue soared 47 percent on a year-over-year basis to $5 billion.

Commenting on the results, CEO Sundar Pichai said:

“This quarter’s results show how our investments there are enabling us to build more helpful products for people and our partners. Ongoing improvements to Search, and the new Pixel 6, are great examples. And as the digital transformation and shift to hybrid work continue, our Cloud services are helping organizations collaborate and stay secure.”