Why the Street Sees Alphabet as a Good Pick for the Long-haul – TipRanks

Shares of Alphabet (NASDAQ: GOOGL) are down nearly 23% due to the broader sell-off in the tech sector and the company’s weak Q1’22 results. Investors were particularly concerned about the slowdown in YouTube advertising revenue in Q1

Suspension of the company’s commercial activities in Russia, the pullback in ad spending in Europe amid the Russia-Ukraine conflict, the impact of inflation and other macro headwinds on companies’ ad spending, and tough comparisons hurt YouTube’s Q1 advertising revenue.

Overall, Alphabet’s Q1 revenue grew 23% to $68 billion, while EPS declined 6.4% to $24.62. Despite the disappointing recent results, Wall Street analysts continue to be optimistic on Alphabet. Let’s see why.

Strategies to Ensure Continued Growth

Alphabet continues to invest in lucrative areas, like its cloud business, which generated $5.8 billion of revenue in Q1, reflecting 44% of growth. Though the cloud division is still losing money, the company is optimistic about its future…

Read Full Story: https://www.tipranks.com/news/article/why-the-street-sees-alphabet-as-a-good-pick-for-the-long-haul/

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source: https://news.oneseocompany.com/2022/05/31/why-the-street-sees-alphabet-as-a-good-pick-for-the-long-haul-tipranks_2022053120836.html

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