Alphabet Inc Class C

GOOG: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$845.00	Plxv	Zmyrjlcfj

Alphabet Earnings: Google Search and YouTube Are Strengthening, and Cloud Is Likely to Accelerate

Ali Mogharabi

Oct 25, 2023

We continue to view the shares of wide-moat Alphabet as attractive. The network effect for Google’s core advertising business remains strong, and as we anticipated, hesitancy among advertisers is lessening, demonstrated by accelerating revenue growth in both search and YouTube. Cloud revenue growth aligned with our expectations but was slower than Microsoft’s Azure (23% versus 29%), which pulled Alphabet shares down in after-hours trading.

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