Core Viewpoint - Alphabet, Google's parent company, reported a 16% year-on-year increase in revenue for Q3, reaching $102.3 billion, exceeding market expectations by 3% [1] Financial Performance - Operating profit, excluding a $3.5 billion fine from the European Commission, grew 22% year-on-year to $34.7 billion, surpassing market expectations by 8% [1] - Cloud business profitability increased by 85% year-on-year, contributing to overall revenue growth [1] Capital Expenditure Guidance - Management raised the 2025 capital expenditure guidance from $85 billion to a range of $91 billion to $93 billion, representing a year-on-year increase of 73% to 77% [1] AI Investment Impact - Investments in AI are beginning to show results in both core search and cloud businesses, accelerating revenue growth [1] Revenue Forecast and Target Price - The revenue forecast for 2025 to 2027 has been increased by 1% to 4% [1] - The target price has been raised from $221 to $328, maintaining a "Buy" rating [1]
大行评级丨招银国际：上调Alphabet目标价至328美元 维持“买入”评级
Ge Long Hui·2025-11-04 03:26