Strong Report for Google in Q3
Oct 31, 2024
Alphabet (i.e., Google) reported Q3 results that were strong across the board. Revenue was up 15%, led by Google Cloud growing 35% year-over-year as businesses spend to build out their AI infrastructure. The core business (search, subscriptions, platforms, YouTube, etc.) still grew a healthy 13%, and remains 87% of revenues. The company continues to expand margins (op margin up to 32.3%, vs. 27.8% a year ago) and buy back shares (down 2.2% year-over-year). Pretty much the results were are looking for from the company, but the market is still ahead of the value. I'm bumping the fair value price up a few bucks to $127. Google will remain on the Watch List.
Follow @GreenDotStocks
Information contained on this website represents only the opinions of the author and should not be used as the sole basis for investing decisions. By using this site, you agree to all statements in the Site Policy.
Watch List
| CMG | 69.00% |
| GOOG | 35.98% |
| TSM | -5.20% |
| PSTG | 11.22% |
| SEMR | -12.60% |
| INTU | 19.43% |
| SMAR | 25.38% |
| GTLB | 19.44% |
| CRWD | 38.08% |
| VEEV | 11.08% |
| SNPS | 56.11% |
| WDAY | -2.15% |
| SNOW | -17.99% |
| SE | 27.96% |
| ENLT | -11.67% |
| MA | 8.84% |
| PINS | 9.62% |
| MSFT | -21.25% |
vs. Fair Value Estimates
Buy List
| ODD | -27.57% |
| ASR | -38.52% |
| CELH | -46.29% |
| PAYC | -26.91% |
| HRMY | -51.32% |
vs. Fair Value Estimates
Hold List
| FLYW | -8.32% |
| TOST | 5.37% |
| CPNG | 9.74% |
| HIMS | -10.33% |
| MNDY | 50.70% |
| GLBE | -11.63% |
| ZS | 8.26% |
| V | -19.71% |
| ADSK | 7.91% |
| YOU | -23.38% |
| NOW | 29.04% |
| ABNB | -16.80% |
| MELI | -6.03% |
| FTNT | -15.42% |
| TEAM | -16.94% |
| ADBE | -19.52% |
vs. Fair Value Estimates