Is Alphabet Stock A Buy Now?
Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) just turned in its second-quarter 2022 earnings report yesterday, and it was rock-solid considering the circumstances. Amid fast-rising fears the global economy is headed for (or maybe, depending on who you ask, already in) a recession, it wasn't surprising that operating profit was flat compared to a year ago. However, thanks to Google Search and Google Cloud, revenue increased 13% from the same quarter in 2021 to $69.7 billion.
The fact that Alphabet can continue expanding in spite of economic headwinds is impressive, and the internet giant is profitable enough it can plow large amounts of cash into its top growth initiatives to foster more growth once the dark clouds eventually clear. If you're looking for a top stock to buy amid this year's bear market, Alphabet just proved again why it's a worthy candidate.
Within Alphabet's total revenue growth rate of 13% in Q2, Google Search and Google Cloud led the way higher. Search revenue increased 13.5% year over year and accounted for just over 58% of total sales. YouTube ads (up 5%) and Google Other (the Google Play app store, device sales like Pixel and Nest, down 1%) were both a drag.
Source Fool.com
