Will GOOG going to beat the earnings significantly today?
10/29/2024 10:28pm
**Alphabet Inc. (GOOG) is unlikely to significantly beat earnings today.** Here's why:
1. **Earnings Expectations**: The consensus estimates for Alphabet's Q3 2024 earnings per share (EPS) and revenue have been relatively stable, with a slight increase in the revenue forecast to $86.33 billion. The expected EPS is $1.84, which is slightly above the previous quarter's EPS of $1.55. However, the net income growth rate for Q2 2024 was negative at -0.18%, and the diluted EPS growth rate was 0%, indicating a stagnant performance that does not strongly suggest an imminent earnings beat.
2. **Recent Performance**: Alphabet's stock price has experienced significant volatility, with a 5.03% decrease following the Q2 earnings report. This suggests that the market may have already priced in the expected earnings, making a significant beat less likely.
3. **Market Sentiment**: The sentiment around Alphabet's earnings has been cautious, with a focus on the potential impact of regulatory scrutiny on AI initiatives. This suggests that while there may be some positive surprises, they are not expected to be substantial enough to cause a significant market reaction.
4. **Financial Metrics**: The revenue growth rate for Q2 2024 was 5.22%, which is a modest figure. This modest growth, combined with the lack of significant earnings growth in the recent past, does not strongly indicate that today's earnings will be a significant beat.
In conclusion, while it is possible that Alphabet could slightly exceed earnings expectations, the current data and market sentiment suggest that a significant earnings beat is unlikely.