Alphabet Announces Second Quarter 2020 Results
Google's quarterly sales fell for the first time in its history as a public company.
avatar
Staff or Guest writer for The Dog of Wall Street.
2020-07-30 17:18

Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2020.

Here the highlights:

  • EPS: $10.13 (non-GAAP), vs. $8.21 estimated.
  • Revenue: $38.30 billion vs. $37.37 billion estimated.
  • YouTube advertising revenue: $3.81 billion vs. $3.78 billion.
  • Google Cloud revenue: $3.01 billion vs. $3.06 billion.
  • Traffic acquisition costs (TAC): $6.69 billion vs. $6.67 billion.

Ruth Porat, Chief Financial Officer of Alphabet and Google, said the following:

"In the second quarter our total revenues were $38.3B, driven by gradual improvement in our ads business and strong growth in Google Cloud and Other Revenues. We continue to navigate through a difficult global economic environment.”

Google's stock is up in after-market hours trading.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Published On
2020-07-30 17:18

avatar
About the Author
Staff or Guest writer for The Dog of Wall Street.



2 Big Tech Earnings We're Watching
Just like that, earnings season is upon us once again and this quarter is going to see some interesting figures from companies.
By Mike Sakuraba | 1 month ago

Facebook: What is the Metaverse?
Facebook (NASDAQ:FB) is one of the largest companies in the world, and the fifth U.S. company to hit $1 trillion in market cap.
By Mike Sakuraba | 3 months ago

Amazon's big shake up
On Tuesday after the closing bell, Amazon announced its Q4 earnings report which blew the doors off of Wall Street’s expectations.
By Mike Sakuraba | 9 months ago

Alphabet Inc. expands investments in India with the launch of Kormo Job and digital classroom services
Alphabet to get a minority stake in Policybazaar and also invest in Bengaluru-based ShareChat.
By Khan | 1 year ago

Getting rid of Moore’s Law. How to invest in Quantum Computing
Quantum is a new exciting industry that has the potential to rock today's world.
By Alejandro | 1 year ago

Alphabet's Earnings,The Day After
While Facebook and Apple crushed their analyst estimates, it was Alphabet that found themselves in unfamiliar territory.
By Mike Sakuraba | 1 year ago