5 Stocks Drawing Attention on Earnings Reports

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1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156

Shares of Alphabet Inc. (NASDAQ:GOOG) climbed more than eight percent in the early trading Wednesday, January 2, 2022, after delivering another strong quarter. The company’s market value also rose to $1.977 trillion, hovering very close to the $2 trillion mark.

Follow Alphabet Inc. (NASDAQ:GOOG)

Alphabet Inc. (NASDAQ:GOOG) reported earnings of $30.69 for the fourth quarter, crushing analysts’ average estimate of $27.34 per share. Revenue for the quarter jumped to $75.33 billion, easily beating expectations of $72.17 billion.

In addition, Alphabet Inc. (NASDAQ:GOOG) also reported its segment-wise sales performance. Its advertising revenue for the quarter climbed 33 percent versus last year to $61.24 billion, while cloud revenue soared 45 percent to $5.54 billion. In comparison, YouTube ad revenue came in at $8.6 billion versus $6.9 billion in the year-ago period.

Speaking on the results, CEO Sundar Pichai said:

“Q4 saw ongoing strong growth in our advertising business, which helped millions of businesses thrive and find new customers, a quarterly sales record for our Pixel phones despite supply constraints, and our Cloud business continuing to grow strongly.”

You can also take a peek at Top Dividend Stock Picks of Billionaire George Soros and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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