Alphabet (GOOGL), the parent company of Google, plans to announce its third-quarter financial results on Tuesday once the bell signals the close of the Wall Street markets. Financial experts believe the company’s most recent economic performance will provide valuable insights into the significance of digital marketing.
Digital sphere holding its breath ahead of Alphabet Q3 results
It is likely that these financials will also cast a light on the reach of artificial intelligence (AI), depending on how it impacts the tech giant’s bottom line. Alphabet is releasing its Q3 results amidst two ongoing anti-trust legal cases brought against it by the US Department of Justice (DOJ), which accuses it of unfair online search and digital advertising practices.
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With all eyes on the company, analysts predict revenue, excluding traffic acquisition costs, in the $63bn region, an increase of an estimated 10% from the previous year. These experts also expected adjusted earnings per share of $1.44, in line with the latest Bloomberg data.
Microsoft Corp. (MSFT) caught Google on the back foot when, after investing in OpenAI, it jumped the AI gun and started incorporating the generative technology in its products in February. Since this time, Google has been investing vast amounts in generative AI initiatives to even the playing field.
This means investors are keenly waiting for the latest financial reports to determine how lucrative these investments and initiatives were. Additionally, Google also launched its latest smartphones in early October. The new devices emphasise AI functionalities, raising even more interest in these financials.
