Beat estimates: Google Q3 2021 Highlights
On October 26, $Alphabet-C(GOOG.US$ released its Q3 earnings that beats the estimates, following a 0.45% drop in post market. Let's see the highlights that might affect its stock price.
Financial Highlights
Q3 revenue $65.1 bln, up 41%YoY, beating the $63.5 bln estimates
Q3 netincome$18.9 billion,up 68% YoY
Operating margin 32% vs.24% in Q3 2020
Operating & Business Highlights
-The revenue of Google Service (Google Search, YouTube ads, Google Network) and Google Cloud are $59.9 bln and $4.9 bln. The proportion of Cloud revenue remains almost unchanged (7.5%) year-on-year.
-In Q3, the company repurchased and subsequently retired 4.6 million aggregate shares.
Outlook
-Sundar Pichai, CEO of Alphabet and Google, said: “Five years ago, I laid out our vision to become an AI-first company. This quarter’s results show how our investments there are enabling us to build more helpful products."
-Given the gradual recovery in results through the back half of 2020, the benefit from lapping prior year performance diminished in Q3 versus Q2 and will diminish further in Q4.
-Within other revenues in the fourth quarter, the company expect the ongoing drivers of revenue growth to the Hardware due to the benefit from the holiday selling season and inclusion of Fitbit, as well as YouTube subscriptions.
- The company expects robust headcount growth in Q4 for both Google Services and Google Cloud.
What's your thought on GOOG Q3 earnings? Is now a good time to buy or sell? Which way will the stock price go?
We can't wait to see your comments.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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JaketheVender : Interesting, the Wall Street gives Very Bullish sentiments by rating
Louou : The most significant part of the financial report is the investment in servers to support the continued growth of Google services and Google Cloud