"Alphabet reported EPS of $5.11 versus the $2.63 consensus, a 94.1% beat, on revenue of $109.896 billion, up 22% year over year. Google Cloud was the headliner: $20.028 billion in revenue, up 63%, with backlog nearly doubling quarter on quarter to over $460 billion."
"2026 is off to a terrific start. Our AI investments and full stack approach are lighting up every part of the business. Google Cloud revenues grew 63% with backlog nearly doubling quarter on quarter to over $460 billion."
"Then the kicker. Google announced it will sell TPU chips to select customers, a direct shot at Nvidia and exactly the AI-infrastructure validation I laid out two weeks ago."
"Wall Street repriced the stock overnight, with analysts from Goldman Sachs, Cantor Fitzgerald, Citigroup, HSBC, and BMO Capital raising their price targets significantly."
Alphabet reported impressive earnings with an EPS of $5.11, significantly beating the consensus of $2.63. Revenue reached $109.896 billion, a 22% increase year over year. Google Cloud was a standout performer, generating $20.028 billion in revenue, up 63%, with a backlog nearing $460 billion. The announcement of selling TPU chips to select customers indicates a strategic move against Nvidia. Following the earnings report, analysts raised their price targets for Google stock, reflecting increased confidence in its growth trajectory.
Read at 24/7 Wall St.
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