GOOGLE- Correction Incomplete?
Alphabet (Google) misses on earnings as YouTube shrinks; company will cut headcount growth by half in Q4
Alphabet shares dropped more than 7% in extended trading on Tuesday after the company reported weaker-than-expected earnings and revenue for the third quarter and said it would significantly decrease headcount growth.
Earnings per share (EPS): $1.06 vs. $1.25 expected, according to Refinitiv estimates.
Revenue: $69.09 billion vs. $70.58 billion expected, according to Refinitiv estimates.
YouTube advertising revenue: $7.07 billion vs $7.42 billion, according to StreetAccount estimates.
Google Cloud revenue: $6.9 billion vs $6.69 billion, according to StreetAccount estimates
Traffic acquisition costs (TAC): $11.83 vs $12.38, according to StreetAccount estimates
Revenue growth slowed to 6% from 41% a year earlier as the company contends with a continued downdraft in online ad spending. Other than one period early in the pandemic, it’s the weakest period for growth since 2013.
YouTube ad revenue slid about 2% to $7.07 billion from $7.21 billion a year ago. Analysts were expecting an increase of about 3%. Alphabet reported overall advertising revenue of $54.48 billion during the quarter, up slightly from the prior year.
Philipp Schindler, chief business officer for Google, said the company saw a pullback in spend on search ads from certain areas such as insurance, loans, mortgage and cryptocurrencies.
Chart:
99,82 was not checked which according to my analysis would had been a good entry to comfortaby go Long/Buy on such a Tech Giant.
84.58 also unchecked.. that would be the level i would be buying BIG
At this stage, my analysis is that the correction is NOT complete. The resistance at 110.98 will most likely reject the Bulls and that's alevel I would personally go short at.
Fundamentally this is one to hold on too, or Buy. I spend a lot of time on Youtube..which needs to get rid of all the scam ads and annoying ads. There are issues there that need to be fixed.
Concerns:
''Google also canceled the next generation of its Pixelbook laptop and cut funding to its Area 120 in-house incubator. And last month, Google said it would be shuttering its digital gaming service Stadia.''
It look to me as if the Giant called GOOGLE needs heads with more vision... Young fresh minds is the solution. Let's hope they can figure it out.
Extras:
''company will cut headcount growth by half in Q4''
They say investors like that approach and it might help the share recover today's losses . to me this is bad news, it shows they need to do better..employing more people means success, not failure.
Let's wee what happens..I will come back to this post in due time.
One Love,
The FXPROFESSOR
Alphabet shares dropped more than 7% in extended trading on Tuesday after the company reported weaker-than-expected earnings and revenue for the third quarter and said it would significantly decrease headcount growth.
Earnings per share (EPS): $1.06 vs. $1.25 expected, according to Refinitiv estimates.
Revenue: $69.09 billion vs. $70.58 billion expected, according to Refinitiv estimates.
YouTube advertising revenue: $7.07 billion vs $7.42 billion, according to StreetAccount estimates.
Google Cloud revenue: $6.9 billion vs $6.69 billion, according to StreetAccount estimates
Traffic acquisition costs (TAC): $11.83 vs $12.38, according to StreetAccount estimates
Revenue growth slowed to 6% from 41% a year earlier as the company contends with a continued downdraft in online ad spending. Other than one period early in the pandemic, it’s the weakest period for growth since 2013.
YouTube ad revenue slid about 2% to $7.07 billion from $7.21 billion a year ago. Analysts were expecting an increase of about 3%. Alphabet reported overall advertising revenue of $54.48 billion during the quarter, up slightly from the prior year.
Philipp Schindler, chief business officer for Google, said the company saw a pullback in spend on search ads from certain areas such as insurance, loans, mortgage and cryptocurrencies.
Chart:
99,82 was not checked which according to my analysis would had been a good entry to comfortaby go Long/Buy on such a Tech Giant.
84.58 also unchecked.. that would be the level i would be buying BIG
At this stage, my analysis is that the correction is NOT complete. The resistance at 110.98 will most likely reject the Bulls and that's alevel I would personally go short at.
Fundamentally this is one to hold on too, or Buy. I spend a lot of time on Youtube..which needs to get rid of all the scam ads and annoying ads. There are issues there that need to be fixed.
Concerns:
''Google also canceled the next generation of its Pixelbook laptop and cut funding to its Area 120 in-house incubator. And last month, Google said it would be shuttering its digital gaming service Stadia.''
It look to me as if the Giant called GOOGLE needs heads with more vision... Young fresh minds is the solution. Let's hope they can figure it out.
Extras:
''company will cut headcount growth by half in Q4''
They say investors like that approach and it might help the share recover today's losses . to me this is bad news, it shows they need to do better..employing more people means success, not failure.
Let's wee what happens..I will come back to this post in due time.
One Love,
The FXPROFESSOR
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