Markets

Alphabet's Q1 earnings get a bearish response from Stifel

Alphabet's Q1 earnings get a bearish response from Stifel

And while it isn't a big business for Google, the firm did mention that its smartphone operations encountered "year over year headwinds", meaning that it sold fewer handsets than it had in the year-ago quarter. Google's Other revenues - which include the company's enterprise cloud, software, and data management products - were $5.45 billion.

For the quarter that ended March, Wall Street is looking for the Mountain View, Calif. -based tech giant earn $10.56 per share on revenue of $37.34 billion.

Google executives highlighted the company's cloud-computing business as one of its fastest growing segments during a call with analysts Monday.

Alphabet's first-quarter revenue missed analysts' estimates, sparking concern that advertisers are shifting some spending from Alphabet's Google subsidiary to digital rivals.

However, Alphabet earned $11.50 a share before a $1.7 billion fine by European regulators charged to the quarter.

Q1 EPS (GAAP): $US9.50 (including a $US1.7 billion European Union fine), compared with $US10.10 expected by analysts.

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The company reported $36.34 billion in revenue, most of it from Google's many-pronged advertising business. She also said cloud led the overall company's growth in headcount, both in engineering and sales. On Monday investors will want to see how much farther Google can distance itself from its competitors.

The issue for Alphabet, of course, is that its non-Google businesses are just that: Opportunities. That makes Google Cloud the first to offer the GPUs globally.

Interestingly, Google's "Other Bets" unit, which includes self-driving auto business Waymo, incurred losses of $858 million, widening over 50 percent from $571 million a year ago.

Meanwhile, first-quarter sales in Amazon's "other" segment, which is mostly advertising, increased 34 percent to $2.72 billion, the online retailer said last week. Losses grew to $868 million from $571 million a year ago. That slowdown in growth in what is by far its largest business dominated analysts' questions on the conference call, and the stock swoon after-hours indicates they're anxious it could continue.

Google CEO Sundar Pichai, however, is bullish about Google Home, which he called a "market leader".

Elsewhere, Google's improving search features and advertising dominance are expected to drive top-line growth as evidenced by Facebook's (FB) results. Along with Facebook, it commands the lion's share of digital advertising and possibly all of its growth in aggregate versus the other players.


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