Alphabet Q3 earnings preview: AI updates in focus amid Big Tech's spending spree

Published On Oct 28, 2024, 4:43 PM

Alphabet is set to report its Q3 earnings, and analysts expect significant revenue growth due to its investments in artificial intelligence and a strong performance in digital advertising. Projected revenue is $86.44 billion, up from $76.69 billion in Q3 2023. Adjusted earnings per share are expected to rise from $1.55 to $1.83, with cloud revenue anticipated to increase by 28%, reaching $10.79 billion. Despite legal challenges and market competition, Alphabet's focus on AI might present new revenue streams. Analysts generally view the stock as undervalued compared to the market, indicating potential for future growth.

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Stock Forecasts

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Positive

Alphabet's Q3 earnings are likely to meet or exceed market expectations due to strong performance in ad revenue and cloud services, alongside ongoing strategic investments in AI. This should foster investor confidence and could lead to a positive stock price reaction.

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