(Finance) – The title is effervescent Alphabetwhich trades with a decidedly positive performance of 5.57%.
Google’s parent company is celebrating its quarterly results, which exceeded analysts’ expectations, announced last night with the markets closed, thanks to robust search growth and cost containment.
In the fourth quarter of the 2023-2024 fiscal year, ended September 30, revenues reached $88.3 billion, up 15% year-over-year, while operating income rose 32% to $28.5 billion and l net profit of 34% to 26.3 billion.
THE revenue from Google services increased by 13% in the quarter, reaching $76.5 billion, while i Google Cloud revenues rose 35% to $11.4 billion.
The comparison of the title with the FTSE MIBon a weekly basis, shows the greatest relative strength of Alphabet Class A compared to the index, highlighting the concrete attractiveness of the stock by buyers.
Technically, Alphabet Class A it is in a strengthening phase with a resistance area seen at 167.3 Euro, while the most immediate support can be glimpsed at 163.3. At an operational level, a continuation of the bullish session is expected with resistance seen at 171.4.