What was the most heralded story from Google parent Alphabet's (GOOG 1.52%) (GOOGL 1.70%) first-quarter update Thursday evening? The company's better-than-expected revenue growth. Alphabet reported Q1 revenue of $90.2 billion, higher than the consensus Wall Street estimate of $89.1 billion.However, I don't think this story was the most important one for investors. Sure, Alphabet's share price jumped on Friday following the positive results. But the company has just given investors two strong reasons to rema ...

Core Viewpoint - Alphabet's financial performance in Q1 demonstrates the resilience of its Google search business and highlights significant growth in its cloud computing and other segments, countering narratives of decline in its core operations [2][8][12]. Google Search Performance - Google search revenue increased by 10% to $50.7 billion, with notable strength in sectors such as insurance, retail, healthcare, and travel [2]. - The introduction of multimodality features has driven search queries, with circle-to-search usage rising by 40% in the quarter [2]. Cloud Computing Growth - Google Cloud revenue surged by 28% year over year to $12.3 billion, with operating income increasing by 142% to $2.2 billion [4]. - The Google Cloud Platform (GCP) is growing faster than the overall cloud business, focusing on AI infrastructure and generative AI solutions [4]. - Alphabet plans to invest $75 billion in capital expenditures to expand data center capacity, addressing current capacity constraints [5]. YouTube and Subscription Services - YouTube ad revenue rose by 10% to $8.9 billion, contributing to a 19% increase in subscription and device revenue to $10.4 billion [6]. - YouTube has maintained its position as the No. 1 streaming service in the U.S. by watch time for the past two years [6]. Waymo Business Expansion - Waymo's robotaxi service is now delivering 250,000 paid trips per week, a fivefold increase from the previous year, with plans to expand to Atlanta, Miami, and Washington, D.C. [7]. Overall Financial Performance - Alphabet's total quarterly revenue grew by 12% (14% on a constant currency basis) to $90.2 billion, with earnings per share increasing by 49% year over year to $2.81, surpassing analyst expectations [8]. - The company repurchased $15.1 billion in shares in Q1 and announced a new $70 billion buyback plan [10]. Future Outlook - Alphabet anticipates a slight headwind in its ad business due to changes affecting Asian retailers, but remains confident in its ability to navigate macroeconomic challenges [9]. - The company is positioned favorably in the AI space, with its Gemini model and advancements in text-to-video technology [14]. - Alphabet's stock is considered undervalued, trading at a forward P/E ratio of about 18 times 2025 analyst estimates, indicating potential for long-term investment [14].

以下是谷歌 FY25 一季度的财报电话会纪要，财报解读请移步《 谷歌：关税大棒挥不停，广告一哥真能稳如山？ 》 一、财报核心信息回顾 | | | | | Alphabet Inc. (GOOGL.O) Financial Results | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | (USD in 100 millions) | | 3Q23A | 4Q23A | 1Q24A | 2Q24A | 3Q24A | 4Q24A | 1Q25A | 1Q25e | Diff(%/pct) | | Total revenues | | 767 | 863 | 805 | 847 | 883 | વેરિ | 902 | 891 | 1.24% beat | | | yoy | 11.0% | 13.5% | 15.4% | 13.6% | 15.1% | 11.8% | 12.0% | 10.7% | | | Gross profit | | 435 | 487 | 468 | 492 | 518 ...

Core Insights - Alphabet (GOOGL) shares surged by up to 4% following the release of its Q1 earnings, which significantly exceeded expectations [1][6] - Despite a strong performance, GOOGL shares are down 14% year-to-date, although they have gained 37% over the last three years, outperforming the S&P 500 [2] Q1 Financial Performance - Alphabet reported Q1 sales of $76.48 billion, a 13% increase from $67.59 billion in the same quarter last year, surpassing estimates of $75.52 billion by 1% [3][4] - The company's Q1 EPS reached $2.81, exceeding expectations of $2.02 by 39% and increasing 48% from $1.89 per share a year ago [4][6] - Key segments such as Google Search, YouTube advertising, and Google Cloud all experienced double-digit revenue growth during Q1 [4][6] Future Outlook - Alphabet did not provide specific full-year guidance but indicated that advertising revenue from Google services may be affected by previous strengths in the financial services sector throughout 2024 [7] - The company noted that its cloud services are in a tight supply-demand environment, with potential variability in revenue growth rates based on capacity deployment, although higher capacity deployment is expected towards the end of the year [8] Sales and Earnings Projections - According to Zacks estimates, Alphabet's total sales are projected to rise by 9% in fiscal 2025 and by another 10% in FY26, reaching $355.95 billion [9] - Annual earnings are expected to increase by 8% this year and are projected to rise by 14% in FY26 to $9.90 per share [9] Shareholder Returns - In Q1, Alphabet returned $15.1 billion to shareholders through share repurchases and $2.4 billion in dividend payments [12] - The company announced a 5% increase in its quarterly dividend, raising it from $0.80 to $0.84 per share, marking its first dividend increase since initiating payouts in June 2024 [13][14]

VeriSign (VRSN 8.43%) shares took off Friday morning after the company released first-quarter earnings and declared a dividend for the first time. Its solid results also allowed the company to raise revenue guidance for the full year.Investors jumped into what has been one of the big stock market winners so far this year. Shares jumped 9.3% higher as of 11:35 a.m. ET, giving the stock a gain of 33% year to date.VeriSign is a big Warren Buffett holdingThe initiation of a quarterly cash dividend surely made s ...

点击 上方 硬AI 关注我们 谷歌母公司Alphabet周四盘后公布的第一季度业绩显示，得益于其搜索广告业务持续强劲的表现，该公司营收和利润均 超出分析师预期，部分抵消了云计算部门增长放缓的影响。根据财报，Alphabet第一季度资本支出飙升至172亿美元，高 于去年同期的120亿美元，也略高于市场预估的171亿美元。公司预计2025年全年资本支出将达到750亿美元，用于建设 数据中心等项目，较2024年的530亿美元显著增加。良好业绩刺激该公司股价盘后一度上涨6%。 硬·AI 作者 | 赵雨荷 编辑 | 硬 AI 谷歌母公司Alphabet周四盘后公布的第一季度业绩显示，得益于其搜索广告业务持续强劲的表现，该公司 营收和利润均超出分析师预期，部分抵消了云计算部门增长放缓的影响，而且一季度资本支出大增的同 时，该公司表示将继续大幅提高资本支出，刺激该公司股价盘后一度上涨6%。 以下是Alphabet财报要点： 主要财务数据： 营收： Alphabet第一季度营收902.3亿美元，高于分析师预期的891亿美元。剔除合作伙伴分成后的 第一季度营收为765亿美元，高于分析师平均预期754亿美元 净利润： Alpab ...

Core Viewpoint - The article discusses the impact of tariffs on financial markets and highlights two stocks, CyberArk Software and Verisign, that are well-positioned to withstand tariff-related uncertainties [1][2][3]. Group 1: CyberArk Software - CyberArk Software is identified as a strong player in the cybersecurity sector, which is likely to be one of the last areas where businesses cut spending during economic uncertainty [4][5]. - The company primarily secures data through software solutions, reducing its direct tariff risk compared to hardware-dependent firms [6]. - CyberArk specializes in Privileged Access Management (PAM), protecting users with access to sensitive information, making it resilient to business uncertainties [7][8]. - Dan Ives from Wedbush Securities notes that CyberArk is expected to outperform other tech stocks amid tariff concerns [9]. Group 2: Verisign - Verisign is a monopolistic tech firm that dominates the generic top-level domain (gTLD) market, particularly with ".com" and ".net" domains [10][11]. - The company operates under exclusive agreements with ICANN, ensuring its strong market position as businesses must pay Verisign to operate websites with these suffixes [11]. - Verisign's services are not directly affected by tariffs since it sells services rather than physical goods, and companies are unlikely to stop paying for domain registrations due to tariffs [12][13]. - The company has shown consistent revenue growth since 2008, with a net income margin of around 48%, and is backed by Warren Buffett's Berkshire Hathaway, which owns approximately 14% of its shares [14].

Transcripts Alphabet Inc. (GOOG) Q1 2025 Earnings Call Transcript Alphabet Inc. (GOOG) 2025 年第一季度财报电话会议记录 | Alphabet Inc. | | (NASDAQ:GOOG) | Q1 | | Earnings | Call | April | 24, | 2024 | 4:30 | ET | | 2025 | | | Conference | | | PM | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Alphabet | | Inc.（NASDAQ:GOOG）2025 | | | | | 2024 年 | 4 月 | | | 美国东部时间下午 4:30 | | | | 年第一季度财报电话会议 | | 24 | 日 | | | | | Company | Particip ...

Investment Plans - Alphabet plans to invest $75 billion throughout the year, focusing on expanding data center capacity for AI infrastructure despite macroeconomic uncertainties [1] - The company reported first-quarter earnings that exceeded expectations, resulting in a share price increase of over 4% in after-hours trading [2] Macroeconomic Challenges - Google acknowledges the impact of macroeconomic factors, including tariffs, on its business, particularly noting a potential headwind for its advertising revenue due to changes in the de minimis exemption [3][4] - Analysts predict that companies like Shein and Temu will reduce their advertising spending on Google due to increased costs from tariffs, which could significantly affect Google's revenue [5] Financial Performance and Expenses - Alphabet's total operating expenses rose by 9% to $23.3 billion compared to the first quarter of 2024, with research and development investments increasing by 14% driven by higher compensation and depreciation expenses [9] - Administrative expenses surged by 17%, attributed to legal and other charges, indicating rising operational costs [10] Legal Pressures - Alphabet faces mounting legal challenges, including an antitrust lawsuit filed by the Justice Department and several states, which could lead to significant operational changes, including potential divestitures [10][11]

美 东时间4月24日盘后，谷歌母公司Alphabet发布了2025年一季度财报。作为关税影响宏观经济后最直面冲击的行业，谷歌这个广告龙头的表现，会比平时获得更 多的市场聚焦。 实际来看，谷歌Q1业绩强劲，明显优于近期进一步下调后的预期 （BBG一致预期并未完全体现预期的调整）。 但相比于一季度表现，二季度之后的展望才更加关 键。 不过谷歌一般不提供业绩指引，这次电话会估计逃不掉分析师的追问，建议关注一下。 海豚君则倾向于除了"不确定"，管理层给不出更清晰的描述，无非是强调自己的广告ROI优势和历史应对经验。 当下的广告前景如何一切取决于关税谈判进展，在 没有实质性的利好落地之前，商家投放预算会更偏向谨慎。而后续谈判若真的有好消息，那么商家态度变化，至少也要等到三季度才会有所体现。因此，二季度 是不确定中的确定——确定的是业绩差，不确定的差到什么程度。因此本篇点评除了梳理业绩表现外，也会结合谷歌当下的境遇，聊一聊安全区间。 具体来看核心信息： 1. 略解心忧的Q1业绩： 一季度表现比谨慎的预期要明显强劲， 尤其体现在盈利能力上。 Q1经营利润率环比继续提升至34%，暂时没有体现出因支出增长而承压 的情况。 其中 ...