Google-parent Alphabet reported December-quarter earnings and revenue that topped analyst estimates and announced a 20-for-1 stock split, sending Google stock surging in early trading on Wednesday.
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Alphabet (GOOGL) reported fourth-quarter earnings after the market close on Tuesday. The 20-for-1 stock split takes effect after the close of business July 15, if shareholders approve. According to a Barron’s report, the stock split could pave the way for the tech giant to enter the Dow Jones Industrial Average.
“We expect smaller beats in 2022 as search growth slows and operating expenses increase,” said Bank of America analyst Justin Post in a report.
He added: “However, versus peers, Alphabet has more earnings stability, more potential exposure to an ongoing rebound in local and travel verticals, evidence of artificial intelligence advantages across the product stack and a…
