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2021-07-23

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Alphabet Profitability Still Hidden In The Cloud As It Surges Past FAANG Toward Q2 Earnings<blockquote>Alphabet的盈利能力仍隐藏在云端，超越FAANG，实现第二季度盈利</blockquote>

Alphabet (NASDAQ: GOOGL) arguably hit it out of the park last quarter when it reported earnings that left analysts’ estimates in the dust.

Alphabet Profitability Still Hidden In The Cloud As It Surges Past FAANG Toward Q2 Earnings<blockquote>Alphabet的盈利能力仍隐藏在云端，超越FAANG，实现第二季度盈利</blockquote>

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Jumping off its earnings performance, GOOGL shares currently stand 11% higher than they were entering last quarter’s reporting period.<blockquote>总体收入强劲，达到553亿美元，同比增长34%，除<a href=\"https://laohu8.com/S/AONE.U\">一</a>这符合共识。从盈利表现来看，GOOGL股价目前比上季度报告期高出11%。</blockquote> Let’s take a step back for a moment. For a company whose $1 trillion market cap has only a handful of peers in the world, you have to wonder how much more growth is possible, especially considering that GOOGL seems to be in every global market, driving some part of every sector and every industry.<blockquote>让我们后退一步。对于一家市值1万亿美元、全球同行屈指可数的公司来说，你不得不怀疑还有多少增长的可能，特别是考虑到GOOGL似乎遍布全球每个市场，推动着每个行业和每个行业的某个部分。</blockquote> Still, its appetite for growth and innovation is what seems to rejuvenate the 23-year old company. And its forward outlook in its earnings conference call, courtesy of CEO Sundar Pichai, could reflect the scope of the company’s present operations and future ambitions—literally and “virtually,” all over the map.<blockquote>尽管如此，它对增长和创新的兴趣似乎让这家拥有23年历史的公司焕发了活力。首席执行官桑达尔·皮查伊(Sundar Pichai)在其收益电话会议中提供的前瞻性展望可以反映该公司当前运营的范围和未来的雄心——无论是字面上还是“虚拟地”，遍布地图。</blockquote> <h2>Core Search Still Globally Uncontested</h2> Almost everyone in the world uses the term “Google″ as a verb synonymous with “online search.” This speaks to GOOGL’s dominance in the minds of online users—around 92% of all global search queries go through the Google search engine. <blockquote><h2>核心搜索在全球仍无争议</h2>世界上几乎每个人都使用“谷歌”这个词作为“在线搜索”的同义词这说明了GOOGL在在线用户心目中的主导地位——大约92%的全球搜索查询通过谷歌搜索引擎。</blockquote> Not surprisingly, the company has owned over 30% of the global online ad market share since at least 2016, according to Statista, and in the US, that figure is expected to rise to 56.8% this year.<blockquote>毫不奇怪，根据Statista的数据，至少自2016年以来，该公司一直拥有超过30%的全球在线广告市场份额，在美国，这一数字预计今年将升至56.8%。</blockquote> These are important stats, not only because ad revenue represents 82% of GOOGL’s total revenue—in other words, it pays the bills—but because it’s also what makes the company’s forays into other avenues of growth possible.<blockquote>这些都是重要的统计数据，不仅因为广告收入占GOOGL总收入的82%——换句话说，它支付了账单——还因为它也使该公司进军其他增长途径成为可能。</blockquote> As is often the case going into GOOGL earnings, ad revenue growth will likely be on investors’ minds. As earnings approach, the Street appears optimistic about GOOGL’s Q2 ad results. This could be in part due to a continued recovery in internet advertising that may be lifting more than one boat in the sector, Barron’s reported.<blockquote>正如GOOGL盈利中经常出现的情况一样，广告收入增长可能会成为投资者关注的焦点。随着财报临近，华尔街似乎对GOOGL第二季度广告业绩持乐观态度。据《巴伦周刊》报道，这可能部分是由于互联网广告的持续复苏，这可能会提振该行业的不止一艘船。</blockquote> <img src=\"https://tickertapecdn.tdameritrade.com/assets/images/pages/md/google-earnings-210723.png\"/><blockquote></blockquote> FIGURE 1: TAKING A BITE OUT OF THE FAANG. Alphabet’s (GOOGL—purple line) shares are running ahead of the rest of the FAANGs ($NYFANG—candlestick) year to date. Data sources: Nasdaq, NYSE. Chart source: The thinkorswim® platform. For illustrative purposes only. Past performance does not guarantee future results.<blockquote>图1：咬一口FAANG。今年迄今为止，Alphabet（GOOGL-紫线）的股价领先于其他FAANG（$NYFANG-烛台）。数据来源：纳斯达克、纽约证券交易所。图表来源：thinkorswim®平台。仅用于说明目的。过去的表现并不能保证未来的结果。</blockquote> <h2>Quiet Dominance In The World Of Mobile Communications</h2> When you talk about Apple (NASDAQ:AAPL), it’s almost impossible not to talk about the iPhone. After all, doesn’t everyone virtually live by (or “in”) their mobile phones? We can’t say the same for Alphabet, whose Android phones are hardly ever discussed (even in the company’s recent earnings calls).<blockquote><h2>移动通信领域悄然占据主导地位</h2>当你谈到苹果（纳斯达克：AAPL），几乎不可能不谈论iPhone。毕竟，不是每个人都生活在手机旁（或“里面”）吗？我们不能对Alphabet说同样的话，它的Android手机几乎从未被讨论过（即使是在该公司最近的收益评级中）。</blockquote> But here’s something to think about: While nearly 60% of all mobile customers in the U.S. prefer iPhones over Android, the latter dominates the global mobile market with a 72% market share, according to a report by Statcounter. What might that mean with regard to its OS-related Chrome or Chromebook adoption? Seamless OS access across related devices? <blockquote>但这里有一些事情需要考虑：根据Statcounter的一份报告，虽然美国近60%的移动客户更喜欢iPhone而不是Android，但后者以72%的市场份额主导着全球移动市场。这对其与操作系统相关的Chrome或Chromebook的采用意味着什么？跨相关设备的无缝操作系统访问？</blockquote> <h2>Cloud Still Lagging, But Gaining Momentum</h2> GOOGL’s cloud services still rank third behind Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT). But its command of over 7% global market share, reported by Canalys (April 2021), shouldn’t be underestimated, especially considering that the “cloud” is still a budding market.<blockquote><h2>云仍然落后，但势头强劲</h2>GOOGL的云服务仍然排在第三位亚马逊（纳斯达克：AMZN）和微软（纳斯达克：MSFT）。但据Canalys（2021年4月）报道，其超过7%的全球市场份额不应被低估，特别是考虑到“云”仍是一个新兴市场。</blockquote> Last quarter’s $4 billion in cloud revenue revealed the strength and speed of GOOGL’s charge, exhibiting a solid 46% year-over-year growth. On the defensive side, the segment also proved capable of reducing its operating losses from $1.73 billion a year ago to only $1 billion last quarter.<blockquote>上季度40亿美元的云收入显示了GOOGL收费的实力和速度，同比增长46%。在防御方面，该部门还证明有能力将运营亏损从一年前的17.3亿美元减少到上季度的10亿美元。</blockquote> Investors are likely to pay close attention to the Google Cloud revenue when the company reports Q2 earnings on July 27, after the close. Given the level of emphasis CEO Pichai places on the segment in nearly every earnings conference call, it’s hard not to suspect that GOOGL’s cloud services could help shape the company’s future profitability and market dominance.<blockquote>当谷歌云于7月27日收盘后公布第二季度收益时，投资者可能会密切关注该公司的收入。鉴于首席执行官皮查伊在几乎每个盈利电话会议中对该细分市场的重视程度，很难不怀疑GOOGL的云服务可能有助于塑造该公司未来的盈利能力和市场主导地位。</blockquote> <h2>Alphabet’s Acquisitions: A Critical Role In Growth?</h2> Last quarter, we saw GOOGL get a $4.75 billion boost in profit due to its startup acquisitions (though it didn’t specify which companies contributed to the gains). Still, expansion by way of acquisitions appears to be an active part of GOOGL’s growth mix, along with fellow peers MSFT and AMZN.<blockquote><h2>Alphabet的收购：在增长中发挥关键作用？</h2>上个季度，我们看到GOOGL因收购初创公司而获得了47.5亿美元的利润增长（尽管它没有具体说明哪些公司为这些收益做出了贡献）。尽管如此，与同行MSFT和AMZN一样，通过收购进行扩张似乎是GOOGL增长组合的积极组成部分。</blockquote> The company bought up over 160 companies in the last 10 years. But with a formidable free cash flow trailing $50.7 billion over a 12-month period, according to CFO Ruth Porat’s presentation in last quarter’s earnings call, the company may have a sizable amount of cash to expand its portfolio along innovative lines.<blockquote>该公司在过去10年中收购了160多家公司。但根据首席财务官露丝·波拉特(Ruth Porat)在上季度收益看涨期权中的介绍，由于12个月内自由现金流高达507亿美元，该公司可能有大量现金来扩大其创新产品组合。</blockquote> <h2>Alphabet Leads Communications, Tech, And FAANG Year To Date</h2> According to FactSet, Communication Services and Information Technology are among the sectors holding the highest analyst ratings. GOOGL—a “tech” stock under the “communications” sector category—has surpassed both sectors and its FAANG peers in terms of market performance.<blockquote><h2>今年迄今为止，Alphabet在通信、技术和FAANG领域处于领先地位</h2>根据FactSet的数据，通信服务和信息技术是分析师评级最高的行业之一。GOOGL——“通信”行业类别下的“科技”股票——在市场表现方面超过了这两个行业及其FAANG同行。</blockquote> Year to date, GOOGL is up 46%, leaving behind Communications (20.69%), Tech (16.45%), and its peer FAANG components. Its closest peer, lagging by a wide margin, is MSFT (26.68%). Looking far ahead, CFRA analysts project a three-year compound annual growth rate of 24% driven by global ad spend, and, on a segment level, driven by search, YouTube, and cloud.<blockquote>今年迄今为止，GOOGL上涨了46%，落后于通信(20.69%)、科技(16.45%)及其同行FAANG组件。最接近的同行是MSFT（26.68%），大幅落后。展望未来，CFRA分析师预计，在全球广告支出的推动下，以及在搜索、YouTube和云的推动下，三年复合年增长率为24%。</blockquote> As for the current quarter, the company withheld providing revenue and earnings guidance.<blockquote>至于本季度，该公司没有提供收入和盈利指引。</blockquote> <h2>Alphabet Earnings And Options Activity</h2> GOOGL is expected to report adjusted EPS of $19.21, up from $10.13 in the prior-year quarter, according to third-party consensus analyst estimates. Revenue is projected at $56.02 billion, up 46.3% from a year ago.<blockquote><h2>Alphabet盈利和期权活动</h2>预计GOOGL将报告调整后每股收益为19.21美元根据第三方分析师的一致估计，高于去年同期的10.13美元。收入预计为560.2亿美元，同比增长46.3%。</blockquote> Options traders have priced in an expected share price move of 3.2% in either direction around the earnings release. The implied volatility sits at the 25th percentile as of Thursday morning.<blockquote>期权交易员预计财报发布前后股价将双向波动3.2%。截至周四上午，隐含波动率位于第25百分位。</blockquote> Looking at the July 30 options expiration, call activity is spread out with higher activity at the 2600 strike while puts have been active at the 2490 and 2500 strikes. <blockquote>从7月30日期权到期日来看，看涨期权活动分散，在2600点行使价活跃度较高，而看跌期权在2490点和2500点行使价活跃。</blockquote> Note: Call options represent the right, but not the obligation, to buy the underlying security at a predetermined price over a set period of time. Put options represent the right, but not the obligation, to sell the underlying security at a predetermined price over a set period of time.<blockquote>注：看涨期权期权代表在一段时间内以预定价格购买标的证券的权利，但不是义务。看跌期权代表在一段时间内以预定价格出售标的证券的权利，但不是义务。</blockquote> TD Ameritrade® commentary for educational purposes only. Member SIPC. Options involve risks and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options.<blockquote>德美利证券®评论仅用于教育目的。成员SIPC。期权涉及风险，并不适合所有投资者。请阅读标准化期权的特点和风险.</blockquote> Image by Gerd Altmann from Pixabay<blockquote>图片由Gerd Altmann来自Pixabay</blockquote> </body></html><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alphabet Profitability Still Hidden In The Cloud As It Surges Past FAANG Toward Q2 Earnings<blockquote>Alphabet的盈利能力仍隐藏在云端，超越FAANG，实现第二季度盈利</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlphabet Profitability Still Hidden In The Cloud As It Surges Past FAANG Toward Q2 Earnings<blockquote>Alphabet的盈利能力仍隐藏在云端，超越FAANG，实现第二季度盈利</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nBenzinga \n2021-07-23 04:18\n</div>\n</div>\n</h4>\n</header>\n<article>\n<html><body>Alphabet (NASDAQ:GOOGL) arguably hit it out of the park last quarter when it reported earnings that left analysts’ estimates in the dust.<blockquote><html><body>Alphabet（纳斯达克：GOOGL）上个季度公布的盈利超出了分析师的预期，可以说该公司表现出色。</body></html></blockquote> Overall revenue came in strong at $55.3 billion, up 34% year over year, with each business segment topping expectations by a wide margin except for <a href=\"https://laohu8.com/S/AONE.U\">one</a> that matched consensus. Jumping off its earnings performance, GOOGL shares currently stand 11% higher than they were entering last quarter’s reporting period.<blockquote>总体收入强劲，达到553亿美元，同比增长34%，除<a href=\"https://laohu8.com/S/AONE.U\">一</a>这符合共识。从盈利表现来看，GOOGL股价目前比上季度报告期高出11%。</blockquote> Let’s take a step back for a moment. For a company whose $1 trillion market cap has only a handful of peers in the world, you have to wonder how much more growth is possible, especially considering that GOOGL seems to be in every global market, driving some part of every sector and every industry.<blockquote>让我们后退一步。对于一家市值1万亿美元、全球同行屈指可数的公司来说，你不得不怀疑还有多少增长的可能，特别是考虑到GOOGL似乎遍布全球每个市场，推动着每个行业和每个行业的某个部分。</blockquote> Still, its appetite for growth and innovation is what seems to rejuvenate the 23-year old company. And its forward outlook in its earnings conference call, courtesy of CEO Sundar Pichai, could reflect the scope of the company’s present operations and future ambitions—literally and “virtually,” all over the map.<blockquote>尽管如此，它对增长和创新的兴趣似乎让这家拥有23年历史的公司焕发了活力。首席执行官桑达尔·皮查伊(Sundar Pichai)在其收益电话会议中提供的前瞻性展望可以反映该公司当前运营的范围和未来的雄心——无论是字面上还是“虚拟地”，遍布地图。</blockquote> <h2>Core Search Still Globally Uncontested</h2> Almost everyone in the world uses the term “Google″ as a verb synonymous with “online search.” This speaks to GOOGL’s dominance in the minds of online users—around 92% of all global search queries go through the Google search engine. <blockquote><h2>核心搜索在全球仍无争议</h2>世界上几乎每个人都使用“谷歌”这个词作为“在线搜索”的同义词这说明了GOOGL在在线用户心目中的主导地位——大约92%的全球搜索查询通过谷歌搜索引擎。</blockquote> Not surprisingly, the company has owned over 30% of the global online ad market share since at least 2016, according to Statista, and in the US, that figure is expected to rise to 56.8% this year.<blockquote>毫不奇怪，根据Statista的数据，至少自2016年以来，该公司一直拥有超过30%的全球在线广告市场份额，在美国，这一数字预计今年将升至56.8%。</blockquote> These are important stats, not only because ad revenue represents 82% of GOOGL’s total revenue—in other words, it pays the bills—but because it’s also what makes the company’s forays into other avenues of growth possible.<blockquote>这些都是重要的统计数据，不仅因为广告收入占GOOGL总收入的82%——换句话说，它支付了账单——还因为它也使该公司进军其他增长途径成为可能。</blockquote> As is often the case going into GOOGL earnings, ad revenue growth will likely be on investors’ minds. As earnings approach, the Street appears optimistic about GOOGL’s Q2 ad results. This could be in part due to a continued recovery in internet advertising that may be lifting more than one boat in the sector, Barron’s reported.<blockquote>正如GOOGL盈利中经常出现的情况一样，广告收入增长可能会成为投资者关注的焦点。随着财报临近，华尔街似乎对GOOGL第二季度广告业绩持乐观态度。据《巴伦周刊》报道，这可能部分是由于互联网广告的持续复苏，这可能会提振该行业的不止一艘船。</blockquote> <img src=\"https://tickertapecdn.tdameritrade.com/assets/images/pages/md/google-earnings-210723.png\"/><blockquote></blockquote> FIGURE 1: TAKING A BITE OUT OF THE FAANG. Alphabet’s (GOOGL—purple line) shares are running ahead of the rest of the FAANGs ($NYFANG—candlestick) year to date. Data sources: Nasdaq, NYSE. Chart source: The thinkorswim® platform. For illustrative purposes only. Past performance does not guarantee future results.<blockquote>图1：咬一口FAANG。今年迄今为止，Alphabet（GOOGL-紫线）的股价领先于其他FAANG（$NYFANG-烛台）。数据来源：纳斯达克、纽约证券交易所。图表来源：thinkorswim®平台。仅用于说明目的。过去的表现并不能保证未来的结果。</blockquote> <h2>Quiet Dominance In The World Of Mobile Communications</h2> When you talk about Apple (NASDAQ:AAPL), it’s almost impossible not to talk about the iPhone. After all, doesn’t everyone virtually live by (or “in”) their mobile phones? We can’t say the same for Alphabet, whose Android phones are hardly ever discussed (even in the company’s recent earnings calls).<blockquote><h2>移动通信领域悄然占据主导地位</h2>当你谈到苹果（纳斯达克：AAPL），几乎不可能不谈论iPhone。毕竟，不是每个人都生活在手机旁（或“里面”）吗？我们不能对Alphabet说同样的话，它的Android手机几乎从未被讨论过（即使是在该公司最近的收益评级中）。</blockquote> But here’s something to think about: While nearly 60% of all mobile customers in the U.S. prefer iPhones over Android, the latter dominates the global mobile market with a 72% market share, according to a report by Statcounter. What might that mean with regard to its OS-related Chrome or Chromebook adoption? Seamless OS access across related devices? <blockquote>但这里有一些事情需要考虑：根据Statcounter的一份报告，虽然美国近60%的移动客户更喜欢iPhone而不是Android，但后者以72%的市场份额主导着全球移动市场。这对其与操作系统相关的Chrome或Chromebook的采用意味着什么？跨相关设备的无缝操作系统访问？</blockquote> <h2>Cloud Still Lagging, But Gaining Momentum</h2> GOOGL’s cloud services still rank third behind Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT). But its command of over 7% global market share, reported by Canalys (April 2021), shouldn’t be underestimated, especially considering that the “cloud” is still a budding market.<blockquote><h2>云仍然落后，但势头强劲</h2>GOOGL的云服务仍然排在第三位亚马逊（纳斯达克：AMZN）和微软（纳斯达克：MSFT）。但据Canalys（2021年4月）报道，其超过7%的全球市场份额不应被低估，特别是考虑到“云”仍是一个新兴市场。</blockquote> Last quarter’s $4 billion in cloud revenue revealed the strength and speed of GOOGL’s charge, exhibiting a solid 46% year-over-year growth. On the defensive side, the segment also proved capable of reducing its operating losses from $1.73 billion a year ago to only $1 billion last quarter.<blockquote>上季度40亿美元的云收入显示了GOOGL收费的实力和速度，同比增长46%。在防御方面，该部门还证明有能力将运营亏损从一年前的17.3亿美元减少到上季度的10亿美元。</blockquote> Investors are likely to pay close attention to the Google Cloud revenue when the company reports Q2 earnings on July 27, after the close. Given the level of emphasis CEO Pichai places on the segment in nearly every earnings conference call, it’s hard not to suspect that GOOGL’s cloud services could help shape the company’s future profitability and market dominance.<blockquote>当谷歌云于7月27日收盘后公布第二季度收益时，投资者可能会密切关注该公司的收入。鉴于首席执行官皮查伊在几乎每个盈利电话会议中对该细分市场的重视程度，很难不怀疑GOOGL的云服务可能有助于塑造该公司未来的盈利能力和市场主导地位。</blockquote> <h2>Alphabet’s Acquisitions: A Critical Role In Growth?</h2> Last quarter, we saw GOOGL get a $4.75 billion boost in profit due to its startup acquisitions (though it didn’t specify which companies contributed to the gains). Still, expansion by way of acquisitions appears to be an active part of GOOGL’s growth mix, along with fellow peers MSFT and AMZN.<blockquote><h2>Alphabet的收购：在增长中发挥关键作用？</h2>上个季度，我们看到GOOGL因收购初创公司而获得了47.5亿美元的利润增长（尽管它没有具体说明哪些公司为这些收益做出了贡献）。尽管如此，与同行MSFT和AMZN一样，通过收购进行扩张似乎是GOOGL增长组合的积极组成部分。</blockquote> The company bought up over 160 companies in the last 10 years. But with a formidable free cash flow trailing $50.7 billion over a 12-month period, according to CFO Ruth Porat’s presentation in last quarter’s earnings call, the company may have a sizable amount of cash to expand its portfolio along innovative lines.<blockquote>该公司在过去10年中收购了160多家公司。但根据首席财务官露丝·波拉特(Ruth Porat)在上季度收益看涨期权中的介绍，由于12个月内自由现金流高达507亿美元，该公司可能有大量现金来扩大其创新产品组合。</blockquote> <h2>Alphabet Leads Communications, Tech, And FAANG Year To Date</h2> According to FactSet, Communication Services and Information Technology are among the sectors holding the highest analyst ratings. GOOGL—a “tech” stock under the “communications” sector category—has surpassed both sectors and its FAANG peers in terms of market performance.<blockquote><h2>今年迄今为止，Alphabet在通信、技术和FAANG领域处于领先地位</h2>根据FactSet的数据，通信服务和信息技术是分析师评级最高的行业之一。GOOGL——“通信”行业类别下的“科技”股票——在市场表现方面超过了这两个行业及其FAANG同行。</blockquote> Year to date, GOOGL is up 46%, leaving behind Communications (20.69%), Tech (16.45%), and its peer FAANG components. Its closest peer, lagging by a wide margin, is MSFT (26.68%). Looking far ahead, CFRA analysts project a three-year compound annual growth rate of 24% driven by global ad spend, and, on a segment level, driven by search, YouTube, and cloud.<blockquote>今年迄今为止，GOOGL上涨了46%，落后于通信(20.69%)、科技(16.45%)及其同行FAANG组件。最接近的同行是MSFT（26.68%），大幅落后。展望未来，CFRA分析师预计，在全球广告支出的推动下，以及在搜索、YouTube和云的推动下，三年复合年增长率为24%。</blockquote> As for the current quarter, the company withheld providing revenue and earnings guidance.<blockquote>至于本季度，该公司没有提供收入和盈利指引。</blockquote> <h2>Alphabet Earnings And Options Activity</h2> GOOGL is expected to report adjusted EPS of $19.21, up from $10.13 in the prior-year quarter, according to third-party consensus analyst estimates. Revenue is projected at $56.02 billion, up 46.3% from a year ago.<blockquote><h2>Alphabet盈利和期权活动</h2>预计GOOGL将报告调整后每股收益为19.21美元根据第三方分析师的一致估计，高于去年同期的10.13美元。收入预计为560.2亿美元，同比增长46.3%。</blockquote> Options traders have priced in an expected share price move of 3.2% in either direction around the earnings release. The implied volatility sits at the 25th percentile as of Thursday morning.<blockquote>期权交易员预计财报发布前后股价将双向波动3.2%。截至周四上午，隐含波动率位于第25百分位。</blockquote> Looking at the July 30 options expiration, call activity is spread out with higher activity at the 2600 strike while puts have been active at the 2490 and 2500 strikes. <blockquote>从7月30日期权到期日来看，看涨期权活动分散，在2600点行使价活跃度较高，而看跌期权在2490点和2500点行使价活跃。</blockquote> Note: Call options represent the right, but not the obligation, to buy the underlying security at a predetermined price over a set period of time. Put options represent the right, but not the obligation, to sell the underlying security at a predetermined price over a set period of time.<blockquote>注：看涨期权期权代表在一段时间内以预定价格购买标的证券的权利，但不是义务。看跌期权代表在一段时间内以预定价格出售标的证券的权利，但不是义务。</blockquote> TD Ameritrade® commentary for educational purposes only. Member SIPC. Options involve risks and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options.<blockquote>德美利证券®评论仅用于教育目的。成员SIPC。期权涉及风险，并不适合所有投资者。请阅读标准化期权的特点和风险.</blockquote> Image by Gerd Altmann from Pixabay<blockquote>图片由Gerd Altmann来自Pixabay</blockquote> </body></html><blockquote></blockquote>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","QTWO":"Q2 Holdings Inc","GOOGL":"谷歌A","AMZN":"亚马逊","AAPL":"苹果","MSFT":"微软"},"source_url":"https://www.benzinga.com/news/earnings/21/07/22114197/alphabet-profitability-still-hidden-in-the-cloud-as-it-surges-past-faang-toward-q2-earnings","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2153670721","content_text":"Alphabet (NASDAQ:GOOGL) arguably hit it out of the park last quarter when it reported earnings that left analysts’ estimates in the dust.\nOverall revenue came in strong at $55.3 billion, up 34% year over year, with each business segment topping expectations by a wide margin except for one that matched consensus. Jumping off its earnings performance, GOOGL shares currently stand 11% higher than they were entering last quarter’s reporting period.\nLet’s take a step back for a moment. For a company whose $1 trillion market cap has only a handful of peers in the world, you have to wonder how much more growth is possible, especially considering that GOOGL seems to be in every global market, driving some part of every sector and every industry.\nStill, its appetite for growth and innovation is what seems to rejuvenate the 23-year old company. And its forward outlook in its earnings conference call, courtesy of CEO Sundar Pichai, could reflect the scope of the company’s present operations and future ambitions—literally and “virtually,” all over the map.\nCore Search Still Globally Uncontested\nAlmost everyone in the world uses the term “Google″ as a verb synonymous with “online search.” This speaks to GOOGL’s dominance in the minds of online users—around 92% of all global search queries go through the Google search engine. \nNot surprisingly, the company has owned over 30% of the global online ad market share since at least 2016, according to Statista, and in the US, that figure is expected to rise to 56.8% this year.\nThese are important stats, not only because ad revenue represents 82% of GOOGL’s total revenue—in other words, it pays the bills—but because it’s also what makes the company’s forays into other avenues of growth possible.\nAs is often the case going into GOOGL earnings, ad revenue growth will likely be on investors’ minds. As earnings approach, the Street appears optimistic about GOOGL’s Q2 ad results. This could be in part due to a continued recovery in internet advertising that may be lifting more than one boat in the sector, Barron’s reported.\n\nFIGURE 1: TAKING A BITE OUT OF THE FAANG. Alphabet’s (GOOGL—purple line) shares are running ahead of the rest of the FAANGs ($NYFANG—candlestick) year to date. Data sources: Nasdaq, NYSE. Chart source: The thinkorswim® platform. For illustrative purposes only. Past performance does not guarantee future results.\nQuiet Dominance In The World Of Mobile Communications\nWhen you talk about Apple (NASDAQ:AAPL), it’s almost impossible not to talk about the iPhone. After all, doesn’t everyone virtually live by (or “in”) their mobile phones? We can’t say the same for Alphabet, whose Android phones are hardly ever discussed (even in the company’s recent earnings calls).\nBut here’s something to think about: While nearly 60% of all mobile customers in the U.S. prefer iPhones over Android, the latter dominates the global mobile market with a 72% market share, according to a report by Statcounter. What might that mean with regard to its OS-related Chrome or Chromebook adoption? Seamless OS access across related devices? \nCloud Still Lagging, But Gaining Momentum\nGOOGL’s cloud services still rank third behind Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT). But its command of over 7% global market share, reported by Canalys (April 2021), shouldn’t be underestimated, especially considering that the “cloud” is still a budding market.\nLast quarter’s $4 billion in cloud revenue revealed the strength and speed of GOOGL’s charge, exhibiting a solid 46% year-over-year growth. On the defensive side, the segment also proved capable of reducing its operating losses from $1.73 billion a year ago to only $1 billion last quarter.\nInvestors are likely to pay close attention to the Google Cloud revenue when the company reports Q2 earnings on July 27, after the close. Given the level of emphasis CEO Pichai places on the segment in nearly every earnings conference call, it’s hard not to suspect that GOOGL’s cloud services could help shape the company’s future profitability and market dominance.\nAlphabet’s Acquisitions: A Critical Role In Growth?\nLast quarter, we saw GOOGL get a $4.75 billion boost in profit due to its startup acquisitions (though it didn’t specify which companies contributed to the gains). Still, expansion by way of acquisitions appears to be an active part of GOOGL’s growth mix, along with fellow peers MSFT and AMZN.\nThe company bought up over 160 companies in the last 10 years. But with a formidable free cash flow trailing $50.7 billion over a 12-month period, according to CFO Ruth Porat’s presentation in last quarter’s earnings call, the company may have a sizable amount of cash to expand its portfolio along innovative lines.\nAlphabet Leads Communications, Tech, And FAANG Year To Date\nAccording to FactSet, Communication Services and Information Technology are among the sectors holding the highest analyst ratings. GOOGL—a “tech” stock under the “communications” sector category—has surpassed both sectors and its FAANG peers in terms of market performance.\nYear to date, GOOGL is up 46%, leaving behind Communications (20.69%), Tech (16.45%), and its peer FAANG components. Its closest peer, lagging by a wide margin, is MSFT (26.68%). Looking far ahead, CFRA analysts project a three-year compound annual growth rate of 24% driven by global ad spend, and, on a segment level, driven by search, YouTube, and cloud.\nAs for the current quarter, the company withheld providing revenue and earnings guidance.\nAlphabet Earnings And Options Activity\nGOOGL is expected to report adjusted EPS of $19.21, up from $10.13 in the prior-year quarter, according to third-party consensus analyst estimates. Revenue is projected at $56.02 billion, up 46.3% from a year ago.\nOptions traders have priced in an expected share price move of 3.2% in either direction around the earnings release. The implied volatility sits at the 25th percentile as of Thursday morning.\nLooking at the July 30 options expiration, call activity is spread out with higher activity at the 2600 strike while puts have been active at the 2490 and 2500 strikes. \nNote: Call options represent the right, but not the obligation, to buy the underlying security at a predetermined price over a set period of time. Put options represent the right, but not the obligation, to sell the underlying security at a predetermined price over a set period of time.\nTD Ameritrade® commentary for educational purposes only. Member SIPC. Options involve risks and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options.\nImage by Gerd Altmann from Pixabay","news_type":1,"symbols_score_info":{"GOOG":1,"GOOGL":1,"AMZN":0.9,"QTWO":1,"AAPL":0.9,"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":2738,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}

Alphabet Profitability Still Hidden In The Cloud As It Surges Past FAANG Toward Q2 Earnings<blockquote>Alphabet的盈利能力仍隐藏在云端，超越FAANG，实现第二季度盈利</blockquote>

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