Alphabet Inc. is scheduled to report earnings for the quarter ending December 31st after today’s market close.
Given the overall solid performance that has been recorded by the tech industry so far, with regards to the previous releases by Apple and Tesla, market analysts anticipate Alphabet to live up to the high bar and deliver yet another robust performance.
The consensus forecasts project the company reporting Earnings Per Share of $12.76. Such a turn of events would be welcoming news for Google, as the company failed to reach its goals last time and delivered disappointing figures.
Market analysts anticipated the company to announce EPS of $12.57 for Q3 2019; however, Alphabet announced earnings of only $10.12.
Therefore, it has to make up to its shareholders and anything else other than meeting the projected expectations for EPS of $12.76 for the last quarter would be received as an even bigger disappointment.
Meanwhile, the share price of the company appears to have found support at the 1428.00 price level, which, when examined in conjunction with the MACD findings, is suggestive of increasing bullish sentiment.
Thus, the short-term correction appears to be at an end, and the next step in Google's share price development would be subject to the observed performance later today.
Google 1H Price Chart. Image source: Trendsharks ©, created with TradingView.com
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