Google Parent Alphabet's Q2 Expected To Shine With AI, YouTube Shorts, Cloud Strength: Analyst
Google Parent Alphabet's Q2 Expected To Shine With AI, YouTube Shorts, Cloud Strength: Analyst
Bank of America Securities analyst Justin Post maintained Alphabet Inc (NASDAQ:GOOGL) with a Buy and raised the price target from $200 to $206.
美國銀行證券分析師Justin Post維持對alphabet inc（納斯達克:GOOGL）的買入評級，將價格目標從$200上調至$206。
Alphabet is the first in the online media group to report on July 23, and Post expects results to set a positive backdrop for the group.
alphabet是在線媒體集團中第一個在7月23日公佈業績報告的公司，Post預計其業績將爲該集團創造積極的背景。
The analyst slightly raised his Search estimates to 12% year-on-year (versus 11% prior) and now expects second-quarter revenue and EPS of $70.9 billion and $1.91 vs Street at $70.6 billion and $1.84.
分析師將搜索收入的預期輕微上調至12%，同比增長（而非之前的11%），現預計第二季度的營業收入爲709億美元，每股收益爲1.91美元，而華爾街則是706億美元和1.84美元。
Also Read: Google's Potential $23B Wiz Acquisition Set To Enhance Cloud Security
此外還有消息稱，谷歌可能以230億美元的價格收購Wiz公司，以提升雲安全技術。
Post noted upside to Street estimates as his checks suggest AI integrations driving higher usage and ad Click-Through Rates (CTRs), Search revenue stability aided by improving macro and AI-driven ad spend, and YouTube strength from ramping Shorts monetization and less-than-expected headwinds from Prime Video.
Post指出，根據他的調查，人工智能融合帶來了更高的用量和點擊率，搜索收入穩定受到營銷和人工智能投放的幫助，Youtube強勢表現得益於新功能的推廣，且受到Prime Video影響較小。這些轉變都使得華爾街的收益預期有所提升。
Post expects flat Y/Y headcount growth (up 1,500 Q/Q) with ongoing restructuring aiding costs.
Post預計員工增長率持平（季度環比增加1500人），並且持續的重組舉措有助於降低成本。
The analyst expects $22.7 billion in operating expenditures and core margins to increase 183bps Y/Y to 37.2%. Post also expects higher other income to help drive EPS upside (NASDAQ up 8% in the second quarter).
分析師預計運營支出爲227億美元，核心利潤率同比增長183個點子至37.2%。 Post還預計較高的其他收益將有助於推動每股收益上漲（第二季度納斯達克上漲8%）。
According to Post, second-quarter positives include Search upside, positive commentary on AI overviews driving higher usage & CTRs, Shorts driving higher traffic & revenue upside, and Cloud strength as IT dollars shift toward AI.
據Post稱，第二季度的亮點包括搜索營收增長，積極的智能概述，推動更高的用量和點擊率，短視頻推動更高的流量和營收增長，以及雲服務的強勁表現。
Post remains optimistic about growing AI integrations across Google's ecosystem and noted that a broader rollout of AI overviews will help drive higher activity in the core Search business.
Post對Google生態系統中增長的人工智能融合持樂觀態度，並指出智能概述的廣泛推廣將有助於推動核心搜索業務的活躍度提高。
AI use poses a long-term competitive risk, but in the near term, he noted revenue upside from AI-driven monetization improvements will be a critical second-quarter takeaway.
人工智能的應用帶來了長期的競爭風險，但在短期內，他注意到人工智能驅動的營銷改進將是第二季度的一個重要亮點。
Moreover, focusing on expense management, Post noted that Y/Y margin growth in 2024 will be a bright spot and potential EPS upside driver.
此外，Post關注於費用管理，預計2024年的利潤率同比增長將成爲看點和可能產生每股盈利的一個因素。
Given the market multiple expansion (lower rates), the analyst raised his price target.
考慮到市場倍數的擴張（低利率），分析師提高了他的價格目標。
Price Action: GOOGL shares are trading lower by 2.02% at $180.25 at last check Wednesday.
GOOGL股票在週三的最後交易時段下跌2.02%，報收於180.25美元。
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