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《大行》瑞銀:Alphabet(GOOGL.US)次季業績全面改善 目標價升至202美元
阿思達克 07-25 09:41
瑞銀發表研究報告指,Alphabet(GOOGL.US)第二季業績全面改善,搜索業務收入按年增長12%,高於市場預期的10%至11%,主要受惠於付費點擊量增幅加快至4%。期內YouTube收入達98億美元,超越市場普遍預期上限的的96億美元,雲業務收入達136億美元,亦高於預期的131億美元。 該行指,Alphabet於次季形成多元收入增長動力,管理層也透露Shorts短視頻在部分國家已實現與橫屏影片同等觀看時長收益,Google Lens搜索量亦增長70%,反映具有長期變現潛力。 考慮到Alphabet將2025年資本支出指引上調100億美元,或導致折舊攤銷增加,加上第三季常規招聘計劃,瑞銀將其2026年每股盈利預測上調1%,目標價由192美元升至202美元,維持「中性」評級,以反映監管不確定性及搜索業務面臨競爭壓力,可能持續壓制估值。
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