Google and Tesla Earnings Arrive This Week

The recent slowdown in tech stocks will be tested this week with earnings from Alphabet Inc. and Tesla.

GOOG-–-Daily-Chart

GOOG – Daily Chart

The price of GOOG has broken an uptrend support level and has support below $170-175.

Google parent Alphabet is set to report its second-quarter earnings after the close on Tuesday. Investors will likely look for cloud growth and updates on artificial intelligence goals.

According to estimates from Visible Alpha, the tech giant is expected to report revenue of $84.3 billion, a 13% rise over the year. Net income is expected to be $23 billion, or $1.85 per share, higher than a year ago.

Cloud revenue will be necessary for analysts with expectations for cloud revenue of $10.22 billion, according to consensus estimates from Visible Alpha.

The company may also update investors on projects like its AI assistants, Gemini Live, and Project Astra. Those products could help Alphabet compete with the Microsoft-backed OpenAI. The company may also provide insights into how AI Overview is changing Google Search.

Google is also in talks with cybersecurity startup Wiz to acquire it in a deal worth roughly $23 billion. If that deal goes through, it would be the largest acquisition Google has ever made. Another acquisition was also hinted at with HubSpot.

Tesla releases earnings this week, and investors will see the latest financials after a recent slump in EV sales. Tesla shares fell last week after a strong rally, erasing its year-to-date gains. However, the stock is up 60% in the previous three months. If earnings are poor, the stock could be punished after recently postponing its robotaxi unveiling from August to October.

According to Visible Alpha, analysts have forecast that Tesla will report revenue of $24.93 billion in the second quarter of last year. Restructuring and research and development costs are also projected to be higher at the electric vehicle maker than the previous year, leading analysts to estimate a net income of $1.73 billion, down from $2.7 billion a year ago.

Recent News
Start Trading Now !

Try our demo account for free to learn trading. When you’re ready, switch to a live account and start trading for real.

Popular posts
ATFX

Restrictions on Use

Products and Services on this website are not suitable for Hong Kong residents. Such information and materials should not be regarded as or constitute a distribution, an offer, solicitation to buy or sell any investments.

使用限制: 本網站的產品及服務不適合香港居民使用。網站內部的信息和素材不應被視為分銷,要約,買入或賣出任何投資產品。

ATFX

Restrictions on Use

Products and Services on this website are not suitable for the UK residents. Such information and materials should not be regarded as or constitute a distribution, an offer, or a solicitation to buy or sell any investments. Please visit https://atfxgm.eu/en/ to proceed.

ATFX

Restrictions on Use

AT Global Markets (UK) Limited does not offer trading services to retail clients.
If you are a professional client, please visit https://atfxconnect.com