Alphabet Q3 Earnings Preview: Antitrust Probe, 2024 Election, Streak Of Revenue Beats And More For Investors To Watch

Technology giant Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) is one of several Magnificent 7 stocks set to report what could be a telling of how much growth is ahead in the tech sector and how AI investments are paying off when the company reports third-quarter financial results after market close Tuesday, Oct. 29.

Earnings Estimates: Analysts expect Alphabet to report third-quarter revenue of $86.34 billion, compared to $76.69 billion in last year's third quarter according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in seven straight quarters.

Analysts expect Alphabet to report third-quarter earnings per share of $1.85, up from last year's $1.55 in the third quarter. The company has beaten analyst estimates for earnings per share in six straight quarters.

What Analysts Are Saying: One of the big topics on investor and analyst's minds ahead of Alphabet's earnings report has been a potential breakup or restructuring of the company as the U.S. Department of Justice (DOJ) considers measures to address Google’s dominance in the search market.

While a breakup could receive plenty of negative headlines about Alphabet's alleged search monopoly with its Google brand, investors could benefit with a breakup according to sum-of-the-parts valuations from several analysts.

"We don't believe a full breakup would happen. Even if it did, it would be good for shareholders because the sum of the parts is greater than the whole," Jefferies analyst Brent Thill recently said.

The analyst said big technology companies such as Alphabet, Meta Platforms and Amazon have many parts of the business that are not being ...