Alphabet earnings beats boosted by YouTube, cloud growth. How the pros are playing the stock

by | Jul 26, 2023 | Financial

Market Movers rounded up the best reactions from investors and analysts on Alphabet . The pros, including Jim Cramer , discussed the megacap tech company as it jumped 5.8%. Alphabet reported second-quarter earnings Tuesday after the bell. The company beat on the top and bottom lines, posting earnings of $1.44 per share, compared to analysts’ estimate of $1.34, adjusted, per share, per Refinitiv. Alphabet also surpassed analysts’ revenue estimate by nearly $2 billion. Google Cloud and YouTube ads helped drive quarterly results. The stock hit a new 52-week high Wednesday, trading at levels not seen since April 2022. Alphabet also announced that its CFO, Ruth Porat, will step down and take a new role as president and chief investment officer. Class A shares of Alphabet are currently held in Cramer’s Charitable Trust Portfolio.

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