Alphabet NASDAQ:GOOG is expected to post another quarter of double-digit profit growth when it reports second-quarter results on July 22, as investors look for more evidence that its artificial intelligence investments are driving earnings.
Wall Street analysts expect Alphabet NASDAQ:GOOG to earn $2.86 per share for the quarter, up 23.8% from a year earlier. The company has exceeded consensus earnings estimates in each of the past four quarters, including the prior quarter when earnings climbed to $5.11 per share, beating analyst expectations.
Alphabet continues to benefit from growth across its search advertising, Google Cloud and AI businesses. Analysts also project fiscal 2026 earnings per share of $14.32, representing 32.5% annual growth, followed by a further increase to $14.85 in fiscal 2027.
Shares of Alphabet have risen about 98% over the past year, outperforming the S&P 500 and the Communication Services Select Sector SPDR Fund. While the stock recently eased after the company raised equity to help finance its AI expansion, analysts remain optimistic, with 43 of 53 rating the shares a Strong Buy and an average price target implying roughly 22% upside, according to the report.