After the US stock market on Thursday, February 2, digital advertising and search giant Google's parent company $Alphabet-A (GOOGL.US)$Financial results for the fourth quarter of 2022 were released.
Since revenue and EPS for the fourth quarter fell short of expectations, earnings fell 3.6% year on year for the third consecutive quarter. Advertising revenue fell 3.6% year on year in the fourth quarter, the second decline since the IPO listing in 2004. YouTube became a weak point in earnings for three consecutive quarters. Google's stock price once rose 1% after the market, then quickly fell more than 4%. Although Google Cloud's revenue fell short of expectations, it increased 32% year on year, and continued to be the growth engine.
Google Class A stocks (GOOGL) rose more than 7% on Thursday, rising three consecutive days to the highest level in four and a half months since September 12 last year. So far in 2023, it has risen 22%, and fell 39% in 2022, and the NASDAQ fell 33% during the same period. Despite a rebound in stock prices in January, Google fell about 27% over the past 12 months, the information technology sector of the S&P 500 index fell nearly 17% during the same period, and the S&P market fell 9%.
Among the 51 analysts covering the stock, 47 suggested “increasing holdings”, 4 suggested “holding”, and none recommended selling. The average target price was $123.22, which means there is still room for 14% growth.
Google's fourth-quarter revenue and EPS fell short of expectations, with earnings falling year-on-year for the third consecutive quarter
Financial reports show that Google's parent company had total revenue of 76.05 billion US dollars in the fourth quarter of last year,...