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Google earnings are coming tomorrow. Here’s what Wall Street expects
Google (GOOGL) parent Alphabet is set to report third-quarter earnings on Tuesday, after beating second-quarter earnings expectations on artificial intelligence momentum.
The tech giant is expected to report revenues of around $86.4 billion for the third quarter, according to analyst estimates compiled by FactSet (FDS). Google’s U.S. revenues are expected to be $40.6 billion, and its “rest of the world” revenues are expected at $45 billion. The company is expected to report earnings per share, or EPS, of $1.84, according to FactSet.
In the second quarter, Google reported revenues of nearly $85 billion, outdoing Wall Street’s expectations by around $640 million. Google’s revenue was up 14% year over year, and its Cloud division surpassed $10 billion in quarterly revenues for the first time, Google president Ruth Porat said. Google Cloud also exceeded $1 billion in operating profit for the first time.
“Our strong performance this quarter highlights ongoing strength in Search and momentum in Cloud,” Google chief executive Sundar Pichai said in a statement at the time. “We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead.”
In recent months, Google has reportedly made progress on software for AI models that resembles humanlike reasoning abilities. The company has long focused on “reasoning” capabilities in large language models (LLMs), including with its work on chain-of-thought prompting.
With this technique, which people told Bloomberg Google is using, LLMs can solve multistep problems using a “series of intermediate reasoning steps,” similar to the way a human would. OpenAI unveiled its “reasoning” model series, OpenAI o1, in September.
Google is also working on improving its Gemini chatbot’s “reasoning” abilities. In July, Google made its fastest, most cost-efficient model, 1.5 Flash, available in the unpaid version of Gemini.
Google’s shares were up around 0.7% during Monday morning trading. The tech giant’s stock is up20.5% so far this year.
As institutional interest in Bitcoin soars, the crypto community grapples with fundamental questions about custody and control.
Developing crypto regulations, along with a political shift toward cryptocurrencies, is a “very positive direction” for the industry, according to Changpeng Zhao.
With the US presidential elections nearing and no clear frontrunner, uncertainty looms over what effect the victor will have on the crypto sector.
It’s Bitcoin White Paper Day, but it’s also Halloween. Here are Cointelegraph’s six crypto mysteries to share around the campfire.
Bitget Wallet’s Telegram Mini App, Bitget Wallet Lite mini, has attracted more than six million users in just three days after its soft launch.
In just 16 years, Bitcoin has grown to become the world’s 10th largest asset and the best currency for “financial freedom,” according to Tether CEO, Paolo Ardoino.
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