Even though Google's sales and profit increased in the second quarter, the market reaction was slow.
Alphabet has announced financial results for the second quarter of 2024. According to financial results, the company's total revenue for the second quarter was 84.7 billion40 million dollars, up 13.6% from the same period last year, which exceeded analysts' expectations of 84.3 billion70 million dollars. The adjusted profit per share was 1.89 dollars, up 31% or more from the same period last year, which also exceeded the forecast of 1.84 dollars.
The market response was “ups and downs,” with Alphabet stocks rising 2%, then falling 1%, then rising again, rising 3%, and ultimately still falling more than 1.6%.
Although overall performance has exceeded expectations, Wall Street is concerned about the momentum of Google's performance.
First, advertising revenue from the Youtube platform fell below expectations, and the second quarter was 8.66 billion dollars, up 13% from the same period last year, and lower than the market forecast of 8.95 billion dollars, and the growth rate also slowed from the first quarter.
As a result, growth in the main advertising business, which is the pillar of Google's revenue, also slowed, and the year-on-year growth rate in the second quarter was 11.2%, which was lower than 13% in the previous quarter.
Next, Alphabet is a financial results briefing...

Micron's business cycle
As a memory chip design and manufacturing specialist, Micron operates in a cyclical industry. The computer memory market is greatly affected by supply-demand dynamics in last-stage target markets such as smartphones, data center systems, and modern automobiles with large data processing capabilities.
Historically, Micron has experienced several periods of significant decline after rapid growth, which reflects an extensive semiconductor cycle. This cyclicality has the potential to make short-term investments difficult, but it is also an opportunity for long-term investors who can get through the recession.
Micron's recent financial performance appears cyclical at first glance. Despite excellent returns over the past year, the fall in stock prices from all-time highs suggests that market makers are wary of the next potential recession. However, this decline does not necessarily herald the end of Micron's recent swing back into a high-growth region.
Micron's business cycle
From a historical perspective, Micron's business cycle is rising...