Alphabet’s CFO Ruth Porat told shareholders that the first two months of Q1 performed stronger than expected, with a sharp advertising revenue slowdown in March, aligning with the lockdown orders to combat coronavirus contagion, and the subsequent lack of ad spending for companies marketing on Google, YouTube, ands other Alphabet properties. Ad volume came in at $33.7 billion for the quarter. Digital ad revenue from the travel industry typically makes up 10-15% for Alphabet, while digital ad revenues from small businesses are north of 50%.
This report brings about the 4th earnings miss in the past 14 quarters for the company, and the 2nd in the last 3 quarters. Even still, shares are up 4% in the after-hours session Tuesday afternoon; year to date, share losses had been nearly 8% prior to this report.
Starbucks SBUX outperformed fiscal Q2 earnings estimates by a penny Tuesday afternoon to 32 cents per share, while revenues for the quarter came in at $6.00 billion, up from the $5.74 billion expected. Comps were disappointing both globally and in the U.S. — -10% and -3%, respectively — offset somewhat by a 5% increase in average ticket price. Starbucks has not missed an earnings estimate since Q4 2015. Shares of the company are down 1.4% immediately following the earnings release, and roughly -15% year to date. For more on SBUX’s earnings, click here.
Ford Motor Company F posted disappointing results for its Q1 top and bottom lines: -23 cents per share on $31.34 billion in sales, below the -10 cents and $32.7 billion expected. The American car giant now projects revenue losses of $5 billion in its Q2, and currently has a cash balance of $35 billion. Of the companies reporting after Tuesday’s bell, Ford may be hit hardest of all. Shares are down 5.76% in late trading following the earnings release.
” data-reactid=”19″>Search giant Google’s parent company Alphabet GOOGL has posted Q1 2020 earnings results, missing on the bottom line while outperforming on the top. Earnings of $9.87 per share was notably below the $10.97 in the Zacks consensus, as well as the $11.90 reported in the year-ago quarter. The company’s revenue headline of $41.16 billion (+13% year over year) does not subtract Traffic Acquisition Costs (TAC); after doing this math, Alphabet reported $33.6 billion in quarterly sales, an improvement over the $32.82 billion expected.
Alphabet’s CFO Ruth Porat told shareholders that the first two months of Q1 performed stronger than expected, with a sharp advertising revenue slowdown in March, aligning with the lockdown orders to combat coronavirus contagion, and the subsequent lack of ad spending for companies marketing on Google, YouTube, ands other Alphabet properties. Ad volume came in at $33.7 billion for the quarter. Digital ad revenue from the travel industry typically makes up 10-15% for Alphabet, while digital ad revenues from small businesses are north of 50%.
This report brings about the 4th earnings miss in the past 14 quarters for the company, and the 2nd in the last 3 quarters. Even still, shares are up 4% in the after-hours session Tuesday afternoon; year to date, share losses had been nearly 8% prior to this report.
Starbucks SBUX outperformed fiscal Q2 earnings estimates by a penny Tuesday afternoon to 32 cents per share, while revenues for the quarter came in at $6.00 billion, up from the $5.74 billion expected. Comps were disappointing both globally and in the U.S. — -10% and -3%, respectively — offset somewhat by a 5% increase in average ticket price. Starbucks has not missed an earnings estimate since Q4 2015. Shares of the company are down 1.4% immediately following the earnings release, and roughly -15% year to date. For more on SBUX’s earnings, click here.
Ford Motor Company F posted disappointing results for its Q1 top and bottom lines: -23 cents per share on $31.34 billion in sales, below the -10 cents and $32.7 billion expected. The American car giant now projects revenue losses of $5 billion in its Q2, and currently has a cash balance of $35 billion. Of the companies reporting after Tuesday’s bell, Ford may be hit hardest of all. Shares are down 5.76% in late trading following the earnings release.
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