---
title: "GOOG's performance in the last 8 after-hours earnings reports"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42846685.md"
description: "Pulled the last 8 after-hours earnings reports for GOOG (2024Q2–2026Q1), uniformly calculated based on "announcement day regular close → next day open / next day close / 5th trading day close"..."
datetime: "2026-07-22T06:14:42.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42846685.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42846685.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42846685.md)
author: "[小果果の懒惰交易员](https://longbridge.com/en/profiles/9963213.md)"
generator: "portal-rs"
---

# GOOG's performance in the last 8 after-hours earnings reports

I pulled the last 8 after-hours earnings reports for GOOG (2024Q2–2026Q1) and calculated them uniformly based on "announcement day regular close → next day open / next day close / 5th trading day close".

| Earnings | Next Day Gap | Next Day Close | 5-Day  |
| -------- | ------------ | -------------- | ------ |
| 24Q2     | -4.5%        | -5.0%          | -6.4%  |
| 24Q3     | +6.6%        | +2.9%          | +0.2%  |
| 24Q4     | -7.0%        | -6.9%          | -9.9%  |
| 25Q1     | +3.5%        | +1.5%          | +0.8%  |
| 25Q2     | +3.4%        | +0.9%          | +3.1%  |
| 25Q3     | +6.0%        | +2.4%          | +3.5%  |
| 25Q4     | -6.0%        | -0.6%          | -6.6%  |
| 26Q1     | +6.9%        | +10.0%         | +13.8% |

Conclusion:

-   The stock rose the next day in 5 out of 8 cases, but the average gain was only +0.6%; the directional advantage is not strong.
-   The median absolute volatility the next day was 2.7%, with a mean of 3.8%. Given the current implied move of approximately ±6.1%, only 2 out of 8 instances saw the next-day close breach this range. The current options pricing is higher than most historical actual closing price volatilities.
-   The overnight gap is larger: 3 out of 8 exceeded ±6.1%. Moreover, 3 instances of significant gap-ups/gap-downs saw obvious intraday retracement, indicating that the most valuable period to protect against is the opening gap, not holding for several days.
-   In all 8 cases, the direction on the next day matched the 5th day, but with a sample size of only 8, this cannot be treated as a stable pattern.

Mapping to position sizing: Even if GOOG at $346.19 rises by +6.1% to approximately $367, it remains about 8.3% below the Jan27 400C strike price. While an increase would allow calls to benefit from delta, the magnitude is typically insufficient to offset the post-earnings IV crush; "rising 5/8 times historically" is not enough justification to keep two high-strike calls.

My ranking remains unchanged:

1.  Safest approach: Sell 1 Jan27 400C call before earnings, directly halving delta/vega risk.
2.  If you insist on not reducing position size: Buy only 1 set of Jul24 335/315 put spreads. History shows that what truly needs hedging is the ~-7% overnight tail risk; the 335 long put starts working from a drop of about 3.2% from the current price, covering earlier than the 330/315 spread.
3.  Do not sell naked puts. They increase bullish delta and the obligation to take delivery during declines, which is not a hedge.

The chart places the current ±6.1% pricing alongside the 8 actual market reactions. Price data: Longbridge forward-adjusted GOOG daily chart; dates verified by [Alphabet IR](https://abc.xyz/investor/) and [SEC 2026Q1 release](https://www.sec.gov/Archives/edgar/data/1652044/000165204426000043/googexhibit991q12026.htm). At 21:35 after market open, I will re-quote based on real-time bid/ask in the original protection strategy thread.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**