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Google (GOOGL) Q2 2022 earnings results miss EPS and revenue expectations

Google (GOOGL) missed its Q2 2022 projections, but still reported in with a little over $69 billion in revenue.

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Alphabet Inc. (GOOGL) has issued its Q2 2022 earnings report. Google has missed its EPS and revenue expectations for the quarter, reporting in with a revenue of $69.685 billion USD with a $1.21/share EPS on the strength of its search and cloud services.

According to the Google Q2 2022 earnings report, the company's $69 billion revenue total is up by a little less than $8 billion year-over-year. However, it's less than where the tech giant expected to be at this point. Google had previously estimated a revenue of $70 billion with a $1.29/share. Google is now projecting a Q3 2022 revenue expectation of $73 billion with an EPS expectation of $1.38/share. Google (GOOGL) shares were down $2.49 on Tuesday's news, but has rebounded in after-hours trading, hovering at around $107.60/share, according to Yahoo! Finance.

Google (GOOGL) has rebounded in after shares trading
Google (GOOGL) is slowly climbing back up after initially falling following its Q2 2022 earnings report.
Source: Yahoo! Finance

"In the second quarter our performance was driven by Search and Cloud," said Alphabet/Google CEO Sundar Pichai. "The investments we've made over the years in AI and computing are helping to make our services particularly valuable for consumers, and highly effective for businesses of all sizes. As we sharpen our focus, we'll continue to invest responsibly in deep computer science for the long-term."

The increases in revenue from Search and Cloud services are enough to overcome the comparatively modest increases in YouTube ad revenue, which has increased by $338 million year-over-year. Search's revenue is up to $40.689 billion, up nearly $5 billion year-over-year. Google Cloud's revenue has jumped to $6.276 billion, which is up by about $1.6 billion from this point last year.

While Google is falling slightly short of its expectations, the company still looks to be set for the future. We'll learn more during the Q2 2022 earnings call, which you can listen to live on the Shacknews Twitch channel. Keep it on Shacknews for the latest finance updates from the world of games and tech.

Senior Editor

Ozzie has been playing video games since picking up his first NES controller at age 5. He has been into games ever since, only briefly stepping away during his college years. But he was pulled back in after spending years in QA circles for both THQ and Activision, mostly spending time helping to push forward the Guitar Hero series at its peak. Ozzie has become a big fan of platformers, puzzle games, shooters, and RPGs, just to name a few genres, but he’s also a huge sucker for anything with a good, compelling narrative behind it. Because what are video games if you can't enjoy a good story with a fresh Cherry Coke?

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