Google-parent Alphabet reported fourth quarter sales that missed analyst’ expectations, amid an ongoing reduction in marketing spending from clients globally. The company also mentioned a multi-billion hit to current quarter earnings due to its recent round of job cuts.
Fourth-quarter 2022 earnings of $1.05 per share missed the FactSet consensus estimate of $1.18 a share.
For the three months ending in December, revenues rose 1% to $76 billion, around $620 million shy of the Street expectations.
Revenues from the Google services business fell -2.2% year over year to $67.84 billion (89.2% of the total revenues). Search revenues from Google-owned sites dipped -1.6% year over year to $42.6 billion.
Google said revenues from YouTube slipped -7.7% to around $7.96 billion while overall ad sales fell - 3.6% to $59.04 billion.
Total Google advertising revenues were down -3.6% year over year to $59.04 billion ( 77.6% of the total revenues).
Alphabet mentioned that it expects to incur employee severance and related charges of $1.9 billion to $2.3 billion from the layoff of 12,000 people.
GOOG saw its Momentum Indicator move above the 0 level on April 26, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 94 similar instances where the indicator turned positive. In of the 94 cases, the stock moved higher in the following days. The odds of a move higher are at .
The Moving Average Convergence Divergence (MACD) for GOOG just turned positive on April 26, 2024. Looking at past instances where GOOG's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GOOG advanced for three days, in of 354 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 321 cases where GOOG Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The 10-day RSI Indicator for GOOG moved out of overbought territory on April 29, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 47 similar instances where the indicator moved out of overbought territory. In of the 47 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 70 cases where GOOG's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GOOG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
GOOG broke above its upper Bollinger Band on April 26, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. GOOG’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 92, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.868) is normal, around the industry mean (14.520). P/E Ratio (26.982) is within average values for comparable stocks, (49.308). Projected Growth (PEG Ratio) (1.637) is also within normal values, averaging (3.441). Dividend Yield (0.000) settles around the average of (0.026) among similar stocks. P/S Ratio (6.477) is also within normal values, averaging (111.300).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a holding company with interests in software, health care, transportation and other technologies
Industry InternetSoftwareServices