#谷歌财报能否守住基本盘
🤖 进群聊算力动态
Google reports its third-quarter earnings after the U.S. market closes tonight.
Everyone’s watching two things:
Can search ads keep up their growth?
When will spending on cloud and AI start turning into revenue?
First, a look at the second-quarter baseline.
Revenue was $119.8 billion, up 24% year over year.
Operating margin was 34%, up 2 percentage points.
Services revenue was $94.5 billion, up 15%.
The question is how much they’re spending.
This year’s capital expenditure guidance is $195 billion to $205 billion.
Free cash flow was already negative in the second quarter.
The company also issued a new round of shares to boost its cash reserves.
Cloud’s backlog stands at $514 billion, growing by more than 80%.
A long list of orders only looks good on paper if they can be delivered quickly.
Once this revenue is proven, investors will be more willing to assign it a higher valuation.
For crypto, this is the balance sheet behind the same AI arms race.
Computing power, electricity, and financing costs will all be factored into the pricing of risk assets.
What do you think matters more in Google’s earnings report: whether search can hold its ground, or the importance of cloud? Let’s talk in the comments.
🤖 进群聊算力动态
Google reports its third-quarter earnings after the U.S. market closes tonight.
Everyone’s watching two things:
Can search ads keep up their growth?
When will spending on cloud and AI start turning into revenue?
First, a look at the second-quarter baseline.
Revenue was $119.8 billion, up 24% year over year.
Operating margin was 34%, up 2 percentage points.
Services revenue was $94.5 billion, up 15%.
The question is how much they’re spending.
This year’s capital expenditure guidance is $195 billion to $205 billion.
Free cash flow was already negative in the second quarter.
The company also issued a new round of shares to boost its cash reserves.
Cloud’s backlog stands at $514 billion, growing by more than 80%.
A long list of orders only looks good on paper if they can be delivered quickly.
Once this revenue is proven, investors will be more willing to assign it a higher valuation.
For crypto, this is the balance sheet behind the same AI arms race.
Computing power, electricity, and financing costs will all be factored into the pricing of risk assets.
What do you think matters more in Google’s earnings report: whether search can hold its ground, or the importance of cloud? Let’s talk in the comments.
