Jim Cramer on Alphabet: “They’re on Fire, Just Plain out on Fire”

Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks Jim Cramer recently discussed. Cramer once again showed regret as the Charitable Trust sold the stock a while ago. He commented:

“Alphabet shot the lights out with the revenue growth accelerating for the third straight quarter to 16%, much better than expected, and the company earning $2 and 87 cents. Wall Street was only looking for $2 and 27 cents, and that’s why that stock is flying after hours. You know, I think it’s terrific regretfully, because I told you the trust sold it. When you drill down, Alphabet’s still firing on all cylinders. Their core search business is up 15%. No cannibalism from Gemini there. The generative AI platform is doing so well.

At the same time, Google Cloud revenue beat expectations by over half a billion dollars, up 34%. Fantastic. Margins were better than expected when you back out $3.5 billion one-time charge, European fine. And Alphabet’s capital expenditures were in line. It was really good, and I gotta tell you, it’s going to be the star. It’s going to be the one that people are going to think about now for the benchmark of these stocks. Even the amount of money that they spent didn’t derail anything. They’re on fire, just plain out on fire.”

Photo by Kai Wenzel on Unsplash

Alphabet Inc. (NASDAQ:GOOGL) provides digital products and platforms including Search, YouTube, Android, and Google Play, and offers enterprise solutions.

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Disclosure: None. This article is originally published at Insider Monkey.