The Zacks Analyst Blog Highlights Alphabet, IXP, FCOM, VOX and XLC

For Immediate ReleaseChicago, IL – October 31, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Alphabet GOOGL, IShares Global Comm Services ETF IXP, Fidelity MSCI Communication Services Index ETF FCOM, Vanguard Communication Services ETF VOX and Communication Services Select Sector SPDR Fund XLC.Here are highlights from Wednesday’s Analyst Blog:Alphabet Soars on Upbeat Earnings: ETFs to ConsiderAlphabet came up with better-than-expected third-quarter earnings on Oct 29 after market close. Earnings of $2.12 per share surpassed the Zacks Consensus Estimate of $1.83 by 15.85%. This marks an improvement of 36.77% from earnings of $1.55 per share recorded in the same period last year.GOOGL, which belongs to the Zacks Internet - Services industry, has added about 23% year to date, after trending downward from early July and falling about 22%. However, since early September, the shares of the company have regained strength, adding 14% (as of Oct. 29).Markets reacted positively to the third-quarter earnings results, with shares of the tech giant surging about 6% during pre-market hours on Oct. 30.Snapshot of Q3 EarningsThe tech giant posted revenues of $74.55 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate of $72.85 billion by 2.34%. This marked a substantial increase of 16.93% from the year-ago quarter.Alphabet's geographical revenues from the United States witnessed an increase of 18.66%, reaching $43.14 billion, from $36.34 billion in the year-ago quarter.Alphabet's net income saw a substantial surge of 33.58% from the year-ago quarter to $26.3 billion. The company's operating income for second-quarter 2024 was $28.52 billion, which marked an increase of 33.63% from the year-ago quarter.According to Alphabet Chief Financial Officer Anat Ashkenazi on call with investors, as quoted on CNBC, Alphabet intends to expand its ongoing cost-cutting initiatives by leveraging AI to streamline workflows, manage headcount and optimize its physical footprint.Segment SnapshotsThird-quarter revenues from Google advertising reached $65.85 billion, up 10.4% from the year-ago quarter. According to Reuters, spending related to the U.S. Presidential elections in the third quarter resulted in increase in revenues from YouTube ads, which reached $8.9 billion in the third quarter, marking a rise of 12.19% from $7.95 billion from the year-ago quarter.Alphabet's Google Cloud business witnessed a substantial surge, with operating income skyrocketing to $1.95 billion, an impressive sevenfold increase from the prior-year figure of $266 million. Per Sundar Pichai, CEO of Alphabet, Cloud's AI solutions are encouraging existing customers to use their products more, attracting new customers and securing larger deals.Revenues from the Cloud segment also witnessed a substantial rise of 34.98% year over year to $11.35 billion, led by accelerated growth in Google Cloud Platform (GCP) across AI Infrastructure, Generative AI Solutions and core GCP products.According to Sundar Pichai, as quoted in the earnings release of the tech giant, the company's dedication to innovation, along with long-term focus and investment in AI, is leading to real value, as consumers and partners alike benefit from its AI-driven tools.The CEO also states that the company achieved impressive revenue growth this quarter and its continuous efforts to enhance efficiency have led to improved margins.Explore ETFsThe earnings results might have a huge impact on ETFs heavily invested in this Internet giant. Here, we have highlighted ETFs with double-digit exposure to Alphabet.IShares Global Comm Services ETF IShares Global Comm Services ETF has an exposure of 12.61% in GOOGL. The fund charges an annual fee of 0.41%.IShares Global Comm Services ETF has gained 5.16% over the past month and 39.52% over the past year. The fund gained 0.86% at the close on Oct. 29.Fidelity MSCI Communication Services Index ETFFidelity MSCI Communication Services Index ETF has an exposure of 12.38% in GOOGL. The fund charges an annual fee of 0.08%.Fidelity MSCI Communication Services Index ETF has gained 4.94% over the past month and 40.11% over the past year. The fund gained 1.13% at the close on Oct. 29.Vanguard Communication Services ETFVanguard Communication Services ETF has an exposure of 11.87% in GOOGL. The fund charges an annual fee of 0.10%.Vanguard Communication Services ETF has gained 4.84% over the past month and 39.84% over the past year. The fund gained 1.03% at the close on Oct. 29.Communication Services Select Sector SPDR FundCommunication Services Select Sector SPDR Fund has an exposure of 10.78% in GOOGL. The fund charges an annual fee of 0.09%.Communication Services Select Sector SPDR Fund has gained 3.84% over the past month and 39.34% over the past year. The fund gained 0.94% at the close on Oct. 29.Want key ETF info delivered straight to your inbox?Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Media ContactZacks Investment Research800-767-3771 ext. 9339support@zacks.com                                      https://www.zacks.com                                                   Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alphabet Inc. (GOOGL): Free Stock Analysis Report Vanguard Communication Services ETF (VOX): ETF Research Reports Fidelity MSCI Communication Services Index ETF (FCOM): ETF Research Reports iShares Global Comm Services ETF (IXP): ETF Research Reports Communication Services Select Sector SPDR ETF (XLC): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks