Google Is Still A Buy After Annual Report
Feb 5, 2025
Alphabet (Google) announced its Q4 and fiscal year results recently. The company reported 14% revenue growth for the year, with solid growth both in its core search, Youtube, and devices unit (+10% growth, 88% of sales) and Google Cloud (+30%). Profit margins improved over a year ago, and buybacks were effective in reducing share count by 5.5% on the year. The firm announced a big $75 million capital expenditure target for 2025 (50% higher than 2024) to capture the burgeoning opportunities in AI services. Google stock looks like an excellent opportunity, trading more than 35% under our new $325 fair value price. It is a buy right now.
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