GOOGL stock exploded more than 8% higher in after-hours trading after Google reported awesome EPS and revenue beats.
Alphabet Q4 Financials
Alphabet reported Q4 EPS of $30.69 versus the consensus estimate of $27.32. The company reported Q4 revenue of $75.33B versus the consensus estimate of $72.13B.
Alphabet reported Q4 Google advertising revenue of $61.24B versus $46.2B from a year ago. The company reported Q4 YouTube ads revenue of $8.63B versus $6.89B in the same quarter of last year. Google reported Q4 Google Search and other revenue of $43.3B versus $31.9B from a year ago.
Sundar Pichai, CEO of Alphabet and Google, said: “Our deep investment in AI technologies continues to drive extraordinary and helpful experiences for people and businesses, across our most important products. Q4 saw ongoing strong growth in our advertising business, which helped millions of businesses thrive and find new customers, a quarterly sales record for our Pixel phones despite supply constraints, and our Cloud business continuing to grow strongly.”
Ruth Porat, CFO of Alphabet and Google, said: “Our fourth quarter revenues of $75 billion, up 32% year over year, reflected broad-based strength in advertiser spend and strong consumer online activity, as well as substantial ongoing revenue growth from Google Cloud. Our investments have helped us drive this growth by delivering the services that people, our partners and businesses need, and we continue to invest in long-term opportunities.”
Alphabet declares 20-for-one stock split
Alphabet announced that the board of directors had approved and declared a 20-for-one stock split in the form of a one-time special stock dividend on each share of the Company’s Class A, Class B, and Class C stock. The stock split is subject to stockholder approval of an amendment to the company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Class A, Class B, and Class C stock to accommodate the stock split. If approval is obtained, each of the company’s stockholders of record at the close of business on July 1, 2022, the record date, will receive, after the close of business on July 15, a dividend of 19 additional shares of the same class of stock for every share held by such stockholder as of the record date.
📺 Here’s what to expect from Google and Meta earnings
📉 GOOGL Stock Technical Analysis
The short term trend is negative, as is the long term trend. GOOGL is one of the better performing stocks in the Interactive Media & Services industry, it outperforms 96% of 78 stocks in the same industry. GOOGL is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so GOOGL is performing more or less in line with the market.
There is a support zone ranging from 2699.09 to 2719.24. There is also a support zone ranging from 2607.03 to 2638.81. These support zones are formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is also a support zone ranging from 2538.70 to 2546.31. This zone is formed by a combination of multiple trend lines in the daily time frame.
There is a resistance zone ranging from 2831.66 to 2844.30. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame. There is also a resistance zone ranging from 2978.53 to 2996.77. This zone is formed by a combination of multiple trend lines in multiple time frames.
The technical rating of GOOGL is bad and it also does not present a quality setup at the moment. GOOGL stock has a Setup Rating of 3 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when GOOGL stock consolidates and has a Setup Rating of 8 or higher.