Alphabet's second-quarter earnings report is due July 22. The report follows several recent headwinds. These include a finalized multi-billion dollar EU antitrust fine. New data-sharing orders under the Digital Markets Act also impact the company. Reported delays for its Gemini 3.5 Pro AI model add to these concerns.
Analysts will focus on Google Cloud's growth trajectory. The company's capital expenditure is another key area. Guidance for 2026 may increase to around $200 billion. This spending supports its AI infrastructure ambitions.
They will also scrutinize search advertising revenue resilience. Commentary on monetizing AI-integrated search features is also anticipated. Options markets price in a stock move of over 7% after the results.