Analysts turn heads with new Alphabet stock price target after earnings
Analysts turn heads with new Alphabet stock price target after earnings originally appeared on TheStreet.
Alphabet’s solid earnings have investors feeling more confident in Google again.
The company posted earnings of $2.31 per share on revenue of $96.43 billion, both ahead of Wall Street analysts’ forecast.
Search brought in $54.19 billion, while total ad revenue climbed to $71.34 billion, up 10% from last year. YouTube ads came in at $9.8 billion, slightly above expectations.
Cloud was a standout, with revenue jumping 32% to $13.62 billion. Alphabet recently struck a deal with OpenAI to power ChatGPT using Google Cloud.
Alphabet also raised its 2025 capital spending forecast to $85 billion, up from $75 billion in…
