Nasdaq 100: Tesla Stumbles While Alphabet Steady in Q2 Earnings Analysis
Alphabet’s Steady Performance
In contrast, Alphabet, Google’s parent company, reported Q2 results that met analyst expectations. The tech giant’s earnings per share stood at $1.89, surpassing the estimated $1.84. Revenue reached $84.74 billion, slightly above the expected $84.19 billion.
Alphabet’s revenue grew 14% year-over-year, driven by strong performances in search and cloud services. Google Cloud revenue exceeded $10 billion for the first time, reaching $10.35 billion.
However, YouTube advertising revenue fell short of expectations, coming in at $8.66 billion against the anticipated $8.93 billion. Despite this, it still showed growth compared to the $7.66 billion reported in the same quarter last year.
Market Forecast
The contrasting performances of Tesla and Alphabet reflect the current state of the tech sector. Tesla’s struggles with market share and profitability suggest a bearish outlook for the electric vehicle market in the short term. Investors may need to reassess their expectations for Tesla’s growth trajectory.
This article was originally published by a www.fxempire.com
Read it HERE
