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Alphabet stock set for Q2 print after options price bigger move
Analysts expect Q2 revenue of about $117 billion, and options indicate a potential 5.6% swing after the July 22 report.
Alphabet (GOOG, GOOGL) is scheduled to report Q2 earnings after the market close on July 22, with market data showing investor expectations for a larger-than-usual move. Ahead of the release, the stock closed Friday at about $354, down roughly 3% on news that Google's Gemini 3.5 Pro AI model was delayed due to underwhelming internal performance benchmarks.
Yahoo Finance cites consensus expectations for the quarter of roughly $117 billion in revenue, representing more than 21% year-over-year growth, with earnings per share projected at $2.89. It also highlights Google Cloud as a key line item, noting Bank of America raised its growth estimate to 70% for the quarter and projected about $22.5 billion in cloud revenue, supported by a contracted backlog that nearly doubled sequentially to $462 billion in Q1.
The options market is pricing potential volatility of up to 5.56% in either direction by week's end following the report, with implied volatility near 60%. Traders are also reportedly paying about twice as much for upside calls as for downside protection, while prediction markets assign a 96.6% probability of an earnings beat.
Wall Street sentiment described by Yahoo Finance remains strongly positive, with 49 of 54 analysts rating the stock a Buy or Strong Buy and no Sell recommendations. The mean price target is near $434, implying about 25% upside from current levels, and the most aggressive target is $515 with the lowest at $365.