<p><strong>字母表</strong>（GOOG -0.02%）（GOOGL 0.10%）于周二正式开启了大型科技公司的财报季，谷歌母公司发布了一份亮眼的报告。</p>
<p>字母表在第三季度的业绩大幅超出预期，总收入增长了 15%，达到 883 亿美元，超出预期的 863 亿美元，并且较第二季度加速增长。</p>
<p>几乎所有领域的增长都相当稳健，谷歌的广告收入主要来自搜索，增长了 10.4%；而其云业务收入增长了 35%，达到 113 亿美元，盈利能力也大幅提升。云部门的营业收入从 2.66 亿美元增加到 19.4 亿美元，增长超过七倍，同时其利润率接近于 <strong>微软</strong> Azure 和 <strong>亚马逊</strong> Web Services 等领先云基础设施平台。</p>
<p>其核心谷歌服务的营业利润率也大幅上升。整体营业利润率从 28% 上升到 32%，每股收益（EPS）从 1.55 美元激增至 2.12 美元，远超市场共识的 1.84 美元。字母表在过去一年中保持员工人数不变，帮助推动了利润率的扩张，并兑现了早前限制员工增长的承诺。</p>
<p>每股收益的部分增长归因于 32 亿美元的其他收入，其中大部分来自其股权投资的增值。然而，即使不考虑这些，季度营业收入仍增长了 33%，达到 285 亿美元。这对于全球最大的公司之一来说是惊人的增长，有些人认为它已经成熟。</p>
<p>作为全球最大的数字广告平台，字母表也是全球经济的风向标。因此，它的报告为股市的走向提供了线索。报告发布后，该公司的股价上涨了 5%，但这就是为什么它可能会在更广泛的市场中引发更多涨幅的原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTU3NTUvbWFuLXRvdWNoaW5nLW1hZ25pZnlpbmctZ2xhc3MtYnV0dG9uLW9uLWZsb2F0aW5nLXNlYXJjaC1iYXItaW50ZXJuZXQtZ29vZ2xlLXNlYXJjaC1lbmdpbmUuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTU3NTUvbWFuLXRvdWNoaW5nLW1hZ25pZnlpbmctZ2xhc3MtYnV0dG9uLW9uLWZsb2F0aW5nLXNlYXJjaC1iYXItaW50ZXJuZXQtZ29vZ2xlLXNlYXJjaC1lbmdpbmUuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>字母表的报告对股市的意义</h2>
<p>字母表的报告发布之际，市场对牛市的强度感到明显紧张。沃伦·巴菲特在 2024 年一直在出售股票并购买国债，而 <strong>高盛</strong> 刚刚预测未来十年股市年均增长仅为 3%。</p>
<p>其他知名投资者指出存在人工智能泡沫，主要指数根据历史标准来看也显得昂贵。</p>
<p>然而，字母表的这份出色报告提醒我们，最大的科技公司，通常被称为 “七大巨头”，仍在以令人印象深刻的速度增长。</p>
<p>这也表明，广告商在疫情后的低迷期后仍在增加支出——这是全球经济的一个看涨信号，因为企业在有信心获得良好投资回报和消费者会购买其产品时会增加广告支出。</p>
<p>字母表的报告对 <strong>Meta Platforms</strong> 和亚马逊也有利，这两家公司分别是全球第二和第三大数字广告业务。</p>
<h2>现在值得购买的指数基金</h2>
<p>虽然字母表的报告对其股票本身是看涨的，但它也是对以科技为中心的指数基金 <strong>Invesco QQQ Trust</strong>（QQQ 0.74%）的买入信号，该基金是追踪纳斯达克 100 指数的最大交易所交易基金（ETF），该指数由 100 家最大的纳斯达克上市公司组成。</p>
<p>字母表的报告显示，估值达到万亿美元的公司仍有许多增长途径。这些途径包括广告、云计算和人工智能，而这七大巨头股票占纳斯达克 100 指数近 40%，显示它们正在引领该 ETF。</p>
<p>纳斯达克 100 指数在过去十年中以 18% 的复合年增长率长期跑赢 <strong>标准普尔 500 指数</strong>，得益于顶尖科技股的优越增长。该指数在人工智能时代看起来有望继续超越广泛市场指数。</p>
<p>最后，字母表的报告强烈表明，像微软、亚马逊和 Meta 这样的竞争对手也将发布出色的财报。</p>
<p>如果那样的话，它应该会推动纳斯达克 100 在财报季节达到新高。Invesco QQQ ETF 仍然是利用大型科技公司在人工智能及其他领域增长的最简单方式。</p>

谷歌-C

谷歌-A

<p>Alphabet 第三季度强劲的财报显示，收入增长 15% 至 767 亿美元，突显了广告和云服务的强劲增长。营业收入激增，每股收益显著上升，表明盈利能力强劲。这一表现在市场不确定性中让投资者感到安心，并暗示主要科技公司将继续增长。这份报告对跟踪纳斯达克 100 指数的 Invesco QQQ Trust ETF 来说是一个看涨信号，因为它反映了科技行业的持续强劲和市场进一步上涨的潜力</p>

<p><strong>Alphabet</strong>(GOOG -0.02%)(GOOGL 0.10%) officially kicked off big tech earnings on Tuesday, and the Google parent had a banner report to share.</p>
<div class="lb-trans"><p><strong>字母表</strong>（GOOG -0.02%）（GOOGL 0.10%）于周二正式开启了大型科技公司的财报季，谷歌母公司发布了一份亮眼的报告。</p>
</div><p>Alphabet smashed estimates in the third quarter as overall revenue rose 15% to $88.3 billion, ahead of expectations at $86.3 billion and accelerating from the second quarter.</p>
<div class="lb-trans"><p>字母表在第三季度的业绩大幅超出预期，总收入增长了 15%，达到 883 亿美元，超出预期的 863 亿美元，并且较第二季度加速增长。</p>
</div><p>Growth was solid virtually across the board as Google advertising revenue, which is primarily made up of search, was up 10.4%, while its cloud business revenue rose 35% to $11.3 billion, and its profitability also jumped. Operating income at the cloud division increased from $266 million to $1.94 billion, up by more than seven times while delivering a margin approaching that of leading cloud infrastructure platforms like <strong>Microsoft</strong> Azure and <strong>Amazon</strong> Web Services.</p>
<div class="lb-trans"><p>几乎所有领域的增长都相当稳健，谷歌的广告收入主要来自搜索，增长了 10.4%；而其云业务收入增长了 35%，达到 113 亿美元，盈利能力也大幅提升。云部门的营业收入从 2.66 亿美元增加到 19.4 亿美元，增长超过七倍，同时其利润率接近于 <strong>微软</strong> Azure 和 <strong>亚马逊</strong> Web Services 等领先云基础设施平台。</p>
</div><p>Operating margin at its core Google Services also jumped. And as overall operating margin rose from 28% to 32%, earnings per share (EPS) surged from $1.55 to $2.12, well ahead of the consensus at $1.84. Alphabet also held its head count flat over the last year, helping to drive the margin expansion, and holding to an earlier promise to restrain the growth of its workforce.</p>
<div class="lb-trans"><p>其核心谷歌服务的营业利润率也大幅上升。整体营业利润率从 28% 上升到 32%，每股收益（EPS）从 1.55 美元激增至 2.12 美元，远超市场共识的 1.84 美元。字母表在过去一年中保持员工人数不变，帮助推动了利润率的扩张，并兑现了早前限制员工增长的承诺。</p>
</div><p>Part of the gains in EPS owes to other income of $3.2 billion, most of which came from increases in its equity investments. However, even without that, operating income rose 33% in the quarter to $28.5 billion. That's phenomenal growth for one of the biggest companies in the world, and one that some regard as mature.</p>
<div class="lb-trans"><p>每股收益的部分增长归因于 32 亿美元的其他收入，其中大部分来自其股权投资的增值。然而，即使不考虑这些，季度营业收入仍增长了 33%，达到 285 亿美元。这对于全球最大的公司之一来说是惊人的增长，有些人认为它已经成熟。</p>
</div><p>As the biggest digital advertising platform in the world, Alphabet is also a bellwether for the global economy. So its report holds clues for where the stock market is headed. The company's shares jumped 5% following the report, but here's why it could trigger more gains in the broader market.</p>
<div class="lb-trans"><p>作为全球最大的数字广告平台，字母表也是全球经济的风向标。因此，它的报告为股市的走向提供了线索。报告发布后，该公司的股价上涨了 5%，但这就是为什么它可能会在更广泛的市场中引发更多涨幅的原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTU3NTUvbWFuLXRvdWNoaW5nLW1hZ25pZnlpbmctZ2xhc3MtYnV0dG9uLW9uLWZsb2F0aW5nLXNlYXJjaC1iYXItaW50ZXJuZXQtZ29vZ2xlLXNlYXJjaC1lbmdpbmUuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F795755%2Fman-touching-magnifying-glass-button-on-floating-search-bar-internet-google-search-engine.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>What Alphabet's report means to the stock market</h2>
<div class="lb-trans"><h2>字母表的报告对股市的意义</h2>
</div><p>Alphabet's report comes at a time when there's palpable nervousness about the strength of the bull market. Warren Buffett has spent 2024 selling equities and buying Treasuries, and <strong>Goldman Sachs</strong> just predicted that the stock market would grow only 3% annually over the next decade.</p>
<div class="lb-trans"><p>字母表的报告发布之际，市场对牛市的强度感到明显紧张。沃伦·巴菲特在 2024 年一直在出售股票并购买国债，而 <strong>高盛</strong> 刚刚预测未来十年股市年均增长仅为 3%。</p>
</div><p>Other prominent investors have called out an AI bubble, and major indexes are expensive, according to historical standards.</p>
<div class="lb-trans"><p>其他知名投资者指出存在人工智能泡沫，主要指数根据历史标准来看也显得昂贵。</p>
</div><p>However, Alphabet's banger of a report is a reminder that the largest tech companies, often called the &#34;Magnificent Seven,&#34; are still growing at impressive rates.</p>
<div class="lb-trans"><p>然而，字母表的这份出色报告提醒我们，最大的科技公司，通常被称为 “七大巨头”，仍在以令人印象深刻的速度增长。</p>
</div><p>It also shows that advertisers are still ramping up spending after a post-pandemic lull -- a bullish sign for the global economy as well, since businesses spend on ads when they're confident they'll get a good return on their investment and consumers will buy their products.</p>
<div class="lb-trans"><p>这也表明，广告商在疫情后的低迷期后仍在增加支出——这是全球经济的一个看涨信号，因为企业在有信心获得良好投资回报和消费者会购买其产品时会增加广告支出。</p>
</div><p>Alphabet's report also bodes well for <strong>Meta Platforms</strong> and Amazon, the No.2 and No.3 digital advertising businesses in the world, respectively.</p>
<div class="lb-trans"><p>字母表的报告对 <strong>Meta Platforms</strong> 和亚马逊也有利，这两家公司分别是全球第二和第三大数字广告业务。</p>
</div><h2>The index fund to buy now</h2>
<div class="lb-trans"><h2>现在值得购买的指数基金</h2>
</div><p>While Alphabet's report is bullish for the stock itself, it's also a buy signal for the tech-centric index fund <strong>Invesco QQQ Trust</strong>(QQQ 0.74%), the largest exchange-traded fund (ETF) that tracks the Nasdaq 100, which comprises the 100 largest Nasdaq-listed companies.</p>
<div class="lb-trans"><p>虽然字母表的报告对其股票本身是看涨的，但它也是对以科技为中心的指数基金 <strong>Invesco QQQ Trust</strong>（QQQ 0.74%）的买入信号，该基金是追踪纳斯达克 100 指数的最大交易所交易基金（ETF），该指数由 100 家最大的纳斯达克上市公司组成。</p>
</div><p>Alphabet's report shows how many avenues for growth remain for companies valued in the trillions of dollars. Those include advertising, cloud computing, and AI, and those Magnificent Seven stocks make up close to 40% of the Nasdaq 100, showing they are guiding the ETF.</p>
<div class="lb-trans"><p>字母表的报告显示，估值达到万亿美元的公司仍有许多增长途径。这些途径包括广告、云计算和人工智能，而这七大巨头股票占纳斯达克 100 指数近 40%，显示它们正在引领该 ETF。</p>
</div><p>The Nasdaq 100 has a long track record of outperforming the <strong>S&amp;P 500</strong>, thanks to the superior growth of the top tech stocks. The index has a compound annual growth rate of 18% over the last decade and looks poised to continue beating the broad-market index in the AI era.</p>
<div class="lb-trans"><p>纳斯达克 100 指数在过去十年中以 18% 的复合年增长率长期跑赢 <strong>标准普尔 500 指数</strong>，得益于顶尖科技股的优越增长。该指数在人工智能时代看起来有望继续超越广泛市场指数。</p>
</div><p>Lastly, the Alphabet report is a strong indicator that peers like Microsoft, Amazon, and Meta, which all compete closely with the Google parent, are set to report smashing earnings results as well.</p>
<div class="lb-trans"><p>最后，字母表的报告强烈表明，像微软、亚马逊和 Meta 这样的竞争对手也将发布出色的财报。</p>
</div><p>If that happens, it should propel the Nasdaq 100 to new heights through earnings season. The Invesco QQQ ETF remains the easiest way to capitalize on the growth of big tech in AI and beyond.</p>
<div class="lb-trans"><p>如果那样的话，它应该会推动纳斯达克 100 在财报季节达到新高。Invesco QQQ ETF 仍然是利用大型科技公司在人工智能及其他领域增长的最简单方式。</p>
</div>

Sorry, Stock Market Bears: Alphabet Just Showed Why This Top Index Fund Is Still a Buy

- Alphabet 第三季度营收增长 15%，达到 775 亿美元，超出预期。  
- 广告和云业务表现强劲，云收入增长 35%，运营利润大幅提升。  
- 此报告对整体市场信心有积极影响，可能推动纳斯达克 100 指数上涨。

抱歉，股市空头：Alphabet 刚刚证明了为什么这个顶级指数基金仍然值得买入