Global internet search provider Alphabet GOOGL is set to report quarterly results Monday after the closing bell. Alphabet, a Zacks Rank #3 (Hold), has surpassed earnings estimates in seven of the past eight quarters. But as Q2 technology results have been mixed, is this market leader a buy heading into the earnings announcement?
Shares of GOOGL have fallen 24% since the beginning of the year. Analysts are expecting the company to post Q2 EPS of $1.28 per share, which would translate to negative growth of -5.88% versus the same quarter last year. Alphabet boasts a trailing four-quarter average earnings surprise of 17.2%. Analyst estimates have declined -3.76% in the past 60 days.
GOOGL is part of the Zacks Internet – Services industry, which ranks in the bottom 48% out of approximately 250 industry groups. The company has a monopoly on the internet search market with more than 94% of the volume. Still, more weakness may lie ahead if the tech giant fails to impress on its quarterly results.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
