Jim Cramer: Google Got Spending Under Control
Let's go over Alphabet's earnings.
Google's parent company posted quarterly revenue of $41.16 billion, beating a $40.82 billion analyst consensus and reflecting growth of 13% year over year in U.S. dollars.
The earnings, excluding a $1.7 billion penalty from the European Commission that recently cleared, came in at $9.87 per share, below a $10.68 consensus.
“Our business, led by Search, YouTube, and Cloud, drove Alphabet revenues to $41.2 billion, up 13% versus last year, or 15% on a constant currency basis,” said Alphabet's CFO Ruth Porat in a press release. “Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues. We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.”
Watch the full video above for Jim Cramer's full take on Alphabet.
Want to know what Jim Cramer and his team at Action Alerts PLUS are thinking about the markets and the stocks they're watching? Sign up on Action Alerts PLUS for more.
Cramer and the team are weighing in on what members need to know about the coronavirus pandemic's impact on the market. Here's how you can recap his entire April show.
Watch More of the Latest Videos on TheStreet and Jim Cramer
- Ignoring Oil Could 'Come Back to Bite the Market,' Warns Expert
- Professional Athletes in Business: NBA Hall of Famer David Robinson Says Teamwork is Recipe for Success
- These Companies Filed For Bankruptcy During the Coronavirus Pandemic
- Jim Cramer: People Don't Live in Fear of COVID-19, They Live in Fear of Death
- Jim Cramer: Apple Is Earnings Report to Watch This Week