ALPHABET INC Reports Second Quarter FY2023 Earnings Results for June 30 2023
August 2, 2023
🌥️Earnings Overview
On July 25 2023, ALPHABET INC ($NASDAQ:GOOGL) reported its financial results for the second quarter of the fiscal year 2023, ending on June 30 2023. The company’s total revenue amounted to USD 74.6 billion, indicating a 7.1% increase from the same period in the prior year. Furthermore, reported net income was up 14.8% at USD 18.4 billion compared to last year.
Share Price
Overall, their stock opened at $121.4 and closed at $122.2, representing a 0.6% increase from their previous closing price of $121.5. The report came as a relief to investors who have been watching ALPHABET INC’s growth and progress in the industry, as they have been expanding rapidly since their first quarter earnings report. They have made significant strides in their development of innovative products and services, and are continuing to grow their presence in the market. The increased share price reflects the confidence investors have in the company’s continued success.
Despite current market conditions, they are continuing to show impressive progress in their development of groundbreaking products and services. The company is poised to continue its success into the coming quarters, so investors are sure to keep a close eye on ALPHABET INC’s progress. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Alphabet Inc. More…
| Total Revenues | Net Income | Net Margin |
| 289.53k | 60.95k | 22.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Alphabet Inc. More…
| Operations | Investing | Financing |
| 99.14k | -20.81k | -70.13k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Alphabet Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 383.04k | 115.9k | 21.15 |
Key Ratios Snapshot
Some of the financial key ratios for Alphabet Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.4% | 31.5% | 25.5% |
| FCF Margin | ROE | ROA |
| 24.6% | 17.5% | 12.0% |
Analysis
At GoodWhale, we have conducted an analysis of ALPHABET INC‘s fundamentals and found that it is a low risk investment in terms of financial and business aspects. This is based on our Risk Rating system which evaluates the company’s performance in various areas. However, GoodWhale has detected a risk warning in ALPHABET INC’s balance sheet. If you register with us, you can check it out to make sure you make an informed decision before investing. Our aim is to make sure people make the right investment decisions and we provide all the data and information you need to do so. More…
Peers
The company is one of the largest technology companies in the world and competes with other large tech giants such as HUTN Inc, China VTV Ltd, and Yandex NV. All these companies have different areas of expertise and offer unique products and services, making them formidable competitors of Alphabet Inc.
– HUTN Inc ($OTCPK:HUTN)
HUTN Inc is a public company that specializes in software development and consulting services. As of 2022, the company has a market capitalization of 3.44 million. This means that the current market value of the firm is 3.44 million, which can be used as a measure of its size and financial strength. Additionally, HUTN Inc has a negative Return on Equity (ROE) of -7.31%, which indicates that the company is not generating a sufficient return on the owners’ equity. This could indicate that the company is not being managed effectively or that it is not utilizing its resources effectively.
– China VTV Ltd ($OTCPK:CVTV)
China VTV Ltd is a diversified media and entertainment company that operates television and radio broadcasting networks, as well as an online video platform. The company has a market capitalization of 1.5 billion as of 2022, which reflects its strong presence in the Chinese media and entertainment industry. The Return on Equity (ROE) for China VTV Ltd is -4.41%, which indicates that the company is not generating a positive return on its equity investments. Despite this, investors remain bullish on the company due to its strong market position and breadth of services offered.
– Yandex NV ($BER:YDX)
Yandex NV is a leading Russian technology company that specializes in internet-related products and services, including search engines, transportation and navigation services, e-commerce, online advertising, and more. The company has a market capitalization of 5.38 billion dollars as of 2022, making it one of the largest companies in Russia. Yandex NV also boasts an impressive Return on Equity of 12.35%, which is much higher than the industry average. This indicates that the company is generating consistent returns for shareholders. Yandex NV continues to be a leader within the Russian technology industry and its strong market cap and ROE make it a top pick for investors.
Summary
ALPHABET INC reported strong financial results for the second quarter of FY2023, ending June 30 2023, with total revenue of USD 74.6 billion and net income of USD 18.4 billion. This represented a 7.1% and 14.8% year-over-year growth respectively. Analysts have hailed the results as an excellent performance for the company, citing its ability to deliver consistent revenue growth, as well as increased profitability, through both organic growth and strategic mergers and acquisitions. Investors should be encouraged by the figures and consider ALPHABET INC for their portfolio.
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