Google parent Alphabet Inc. (NASDAQ: GOOG, GOOGL) is all set to publish second-quarter 2023 earnings today at 4:00 PM ET. The market will be closely following the event, looking for updates on the search giant’s AI initiatives.
Listen to Alphabet’s Q2 2023 earnings call live and read the real-time transcript
It is estimated that Alphabet generated earnings of $1.21 per share in the June quarter, which is broadly in line with the prior-year number. Analysts are looking for a 6.1% decline in third-quarter revenues to $65.42 billion.
In the previous quarter, advertising revenue came in at $54.5 billion, unchanged year-over-year. Total revenues moved up 3% from last year to around $70 billion in the first quarter. Meanwhile, net income declined 8% to $15 billion and earnings per share dropped 5% annually to $1.17. Operating cash flow was an impressive $23.5 billion.