- After-market hours, stock is up 5% at 5:30 PM ET at $1,257.99
- In terms of the investment priorities, Alphabet believes the biggest opportunity for investment continues to be in the Ads business
- In the emerging markets, Alphabet is seeing good user growth across its major products (products with over a 1 billion users each)
- Q&A Starts
- In the second quarter, unit sales of managed Chromebooks grew by more than 175%.
- Maps saw strong growth in countries like Indonesia, India and Nigeria, growing over 50% year-on-year
- Through the improvements in machine learning, Alphabet saw a 25x increase in its ability to build maps algorithmically
- Sundar Pichai takes over the call
- Continues to expect expenses to be heavily weighted towards 2H18 to support the holiday season
- Looking ahead, hardware business would see lower growth in third quarter, anticipating launch of new products for the holiday season
- Google segment revenues jumped 25% YoY, boosted by mobile search, with substantial contributions from YouTube and desktop search
- In the product areas, most sizable headcount increases were in cloud for technical and sales roles
- The stock pops 5% on earnings beat
- Ruth Porat starts the call
Google parent Alphabet (GOOGL) reported strong earnings growth in the second quarter, aided by a marked increase in advertising revenues. Net income, excluding fines, climbed to $8.27 billion or $11.75 per share from $6.26 billion or $8.90 per share in the same period last year. Earnings, including fines, dropped 9% to $4.54 per share. Driving the earnings growth, revenues jumped 26% annually to $32.66 billion.
Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for
Warehouse behemoth Costco Wholesale Corporation (NASDAQ: COST) has reported a 15% increase in fourth-quarter 2022 revenues, which translated into double-digit growth in net income. Fourth-quarter revenues increased sharply to $72.09 billion.
Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted