CNBC Television Here’s the breakdown of Google’s earnings: Stifel’s Scott Devitt

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «CNBC Television» (@CNBCtelevision). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: Scott Devitt of Stifel joins “Squawk Alley“ to discuss the tech sector and Google’s positive earnings. Shares of Alphabet climbed 9% Wednesday after the company reported earnings that beat revenue expectations, easing investors’ fears about the pandemic’s impact on advertising. The stock move is added over $70 billion to its market cap, bringing it over $927 billion. The Google parent company reported earnings of $ per share and revenue $ billion on Tuesday, missing analysts expectations on earnings but surpassing revenue estimates, based on data compiled by Refinitiv. The stock initially picked up after the report showed revenue growth of 13% from the previous year, a deceleration from the 17% growth during the same quarter last year but with significant headwinds. Analysts were heartened by executives’ comments suggesting the sharpest hit to revenues may be behind them. On the company’s analyst call, CFO Ruth Porat said there was an “abrupt” drop-off in ad revenues in March but Alphabet has yet to see “further deterioration in the percentage of year-on-year revenue declines.” Porat said the company is also seeing “early signs” of users “returning to more commercial behavior” but warned they don’t yet know how long that behavior will last or whether it will be monetizable. Direct response ads on YouTube in particular stayed strong throughout the quarter. YouTube advertising brought in $ billion in the quarter, up 33% year on year. While brand advertising slowed down around mid-March, direct response ads, which are used to prompt users to take an action like visiting a website, continued to grow. With more people spending time inside, executives said Google products are seeing a surge in engagement on platforms like Android, YouTube and Google Classroom. The company also expressed confidence in its buyback program, which Porat said would continue as planned. For access to live and exclusive video from CNBC subscribe to CNBC PRO: » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBC TV