Alphabet (Google) Q2 Earnings Preview: Market Expert Says Mag 7 Stock 'Has Been Anything But' Magnificent

Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) could show investors and analysts growth in several areas, such as YouTube, cloud and AI when the company reports second-quarter financial results after market close Wednesday.

Here are the earnings estimates, what experts are saying ahead of the report and key items to watch.

Earnings Estimates: Analysts expect Alphabet to report second-quarter revenue of $93.72 billion, up from $84.74 billion in last year's second quarter, according to data from Benzinga Pro.

Alphabet has beaten analyst estimates for revenue in 10 straight quarters.

Analysts expect Alphabet to report second-quarter earnings per share of $2.17, up from $1.89 in last year's second quarter. The company has beaten analyst estimates for earnings per share in nine straight quarters.

What Experts Are Saying: Freedom Capital Markets Chief Global Strategist Jay Woods says that Magnificent 7 member Alphabet has "been anything but" magnificent.

"The company has been facing continual headwinds due to antitrust and litigation risk, AI competition disrupting search and a massive CapEx spend," Woods said in a weekly newsletter.

Woods said Alphabet stock is down year-to-date and 11% off of all-time highs. With shares "stuck in neutral," Woods said the company could see the stock trade higher after the financial results.

"If the company can address these concerns and focus on the positives out of its YouTube and Waymo divisions, it could be ...