Alphabet's second-quarter results are anticipated soon, with a positive outlook from analysts. Fifteen out of nineteen analysts recommend buying the stock, forecasting a near 9% price increase. Google's Cloud division is expected to see significant revenue growth due to enterprise demand and AI advancements. However, concerns about advertising revenue persist amid the rise of generative AI. Additionally, the impending antitrust ruling could impact Google's operations significantly, with analysts taking a cautious stance until the decision is made.
Of the 19 analysts covering Alphabet (GOOGL) and that are tracked by Visible Alpha, 15 have a "buy" or equivalent rating for the stock, alongside four "hold" ratings.
Wall Street broadly expects Google Cloud revenue to have jumped 26% year-over-year to $13.11 billion, benefiting from strong enterprise demand and AI momentum.
A federal judge is expected to rule next month on what steps Google will have to take roughly a year after the company was found to have maintained an illegal monopoly in search.
Analysts on average expect Alphabet to report total revenue of $93.86 billion, up 11% year-over-year, and net income of $26.57 billion, or $2.17 per share.
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