<p><strong>字母表</strong>（GOOG -0.02%）（GOOGL 0.10%）於週二正式開啓了大型科技公司的財報季，谷歌母公司發佈了一份亮眼的報告。</p>
<p>字母表在第三季度的業績大幅超出預期，總收入增長了 15%，達到 883 億美元，超出預期的 863 億美元，並且較第二季度加速增長。</p>
<p>幾乎所有領域的增長都相當穩健，谷歌的廣告收入主要來自搜索，增長了 10.4%；而其雲業務收入增長了 35%，達到 113 億美元，盈利能力也大幅提升。雲部門的營業收入從 2.66 億美元增加到 19.4 億美元，增長超過七倍，同時其利潤率接近於 <strong>微軟</strong> Azure 和 <strong>亞馬遜</strong> Web Services 等領先雲基礎設施平台。</p>
<p>其核心谷歌服務的營業利潤率也大幅上升。整體營業利潤率從 28% 上升到 32%，每股收益（EPS）從 1.55 美元激增至 2.12 美元，遠超市場共識的 1.84 美元。字母表在過去一年中保持員工人數不變，幫助推動了利潤率的擴張，並兑現了早前限制員工增長的承諾。</p>
<p>每股收益的部分增長歸因於 32 億美元的其他收入，其中大部分來自其股權投資的增值。然而，即使不考慮這些，季度營業收入仍增長了 33%，達到 285 億美元。這對於全球最大的公司之一來説是驚人的增長，有些人認為它已經成熟。</p>
<p>作為全球最大的數字廣告平台，字母表也是全球經濟的風向標。因此，它的報告為股市的走向提供了線索。報告發布後，該公司的股價上漲了 5%，但這就是為什麼它可能會在更廣泛的市場中引發更多漲幅的原因。</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>圖片來源：Getty Images。</p>
<h2>字母表的報告對股市的意義</h2>
<p>字母表的報告發布之際，市場對牛市的強度感到明顯緊張。沃倫·巴菲特在 2024 年一直在出售股票併購買國債，而 <strong>高盛</strong> 剛剛預測未來十年股市年均增長僅為 3%。</p>
<p>其他知名投資者指出存在人工智能泡沫，主要指數根據歷史標準來看也顯得昂貴。</p>
<p>然而，字母表的這份出色報告提醒我們，最大的科技公司，通常被稱為 “七大巨頭”，仍在以令人印象深刻的速度增長。</p>
<p>這也表明，廣告商在疫情後的低迷期後仍在增加支出——這是全球經濟的一個看漲信號，因為企業在有信心獲得良好投資回報和消費者會購買其產品時會增加廣告支出。</p>
<p>字母表的報告對 <strong>Meta Platforms</strong> 和亞馬遜也有利，這兩家公司分別是全球第二和第三大數字廣告業務。</p>
<h2>現在值得購買的指數基金</h2>
<p>雖然字母表的報告對其股票本身是看漲的，但它也是對以科技為中心的指數基金 <strong>Invesco QQQ Trust</strong>（QQQ 0.74%）的買入信號，該基金是追蹤納斯達克 100 指數的最大交易所交易基金（ETF），該指數由 100 家最大的納斯達克上市公司組成。</p>
<p>字母表的報告顯示，估值達到萬億美元的公司仍有許多增長途徑。這些途徑包括廣告、雲計算和人工智能，而這七大巨頭股票佔納斯達克 100 指數近 40%，顯示它們正在引領該 ETF。</p>
<p>納斯達克 100 指數在過去十年中以 18% 的複合年增長率長期跑贏 <strong>標準普爾 500 指數</strong>，得益於頂尖科技股的優越增長。該指數在人工智能時代看起來有望繼續超越廣泛市場指數。</p>
<p>最後，字母表的報告強烈表明，像微軟、亞馬遜和 Meta 這樣的競爭對手也將發佈出色的財報。</p>
<p>如果那樣的話，它應該會推動納斯達克 100 在財報季節達到新高。Invesco QQQ ETF 仍然是利用大型科技公司在人工智能及其他領域增長的最簡單方式。</p>

谷歌-C

谷歌-A

<p>Alphabet 第三季度強勁的財報顯示，收入增長 15% 至 767 億美元，突顯了廣告和雲服務的強勁增長。營業收入激增，每股收益顯著上升，表明盈利能力強勁。這一表現在市場不確定性中讓投資者感到安心，並暗示主要科技公司將繼續增長。這份報告對跟蹤納斯達克 100 指數的 Invesco QQQ Trust ETF 來説是一個看漲信號，因為它反映了科技行業的持續強勁和市場進一步上漲的潛力</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%）於週二正式開啓了大型科技公司的財報季，谷歌母公司發佈了一份亮眼的報告。</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業績大幅超出預期，總收入增長了 15%，達到 883 億美元，超出預期的 863 億美元，並且較第二季度加速增長。</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>幾乎所有領域的增長都相當穩健，谷歌的廣告收入主要來自搜索，增長了 10.4%；而其雲業務收入增長了 35%，達到 113 億美元，盈利能力也大幅提升。雲部門的營業收入從 2.66 億美元增加到 19.4 億美元，增長超過七倍，同時其利潤率接近於 <strong>微軟</strong> Azure 和 <strong>亞馬遜</strong> Web Services 等領先雲基礎設施平台。</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>其核心谷歌服務的營業利潤率也大幅上升。整體營業利潤率從 28% 上升到 32%，每股收益（EPS）從 1.55 美元激增至 2.12 美元，遠超市場共識的 1.84 美元。字母表在過去一年中保持員工人數不變，幫助推動了利潤率的擴張，並兑現了早前限制員工增長的承諾。</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>每股收益的部分增長歸因於 32 億美元的其他收入，其中大部分來自其股權投資的增值。然而，即使不考慮這些，季度營業收入仍增長了 33%，達到 285 億美元。這對於全球最大的公司之一來説是驚人的增長，有些人認為它已經成熟。</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>作為全球最大的數字廣告平台，字母表也是全球經濟的風向標。因此，它的報告為股市的走向提供了線索。報告發布後，該公司的股價上漲了 5%，但這就是為什麼它可能會在更廣泛的市場中引發更多漲幅的原因。</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>圖片來源：Getty Images。</p>
</div><h2>What Alphabet's report means to the stock market</h2>
<div class="lb-trans"><h2>字母表的報告對股市的意義</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>字母表的報告發布之際，市場對牛市的強度感到明顯緊張。沃倫·巴菲特在 2024 年一直在出售股票併購買國債，而 <strong>高盛</strong> 剛剛預測未來十年股市年均增長僅為 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>其他知名投資者指出存在人工智能泡沫，主要指數根據歷史標準來看也顯得昂貴。</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，字母表的這份出色報告提醒我們，最大的科技公司，通常被稱為 “七大巨頭”，仍在以令人印象深刻的速度增長。</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>這也表明，廣告商在疫情後的低迷期後仍在增加支出——這是全球經濟的一個看漲信號，因為企業在有信心獲得良好投資回報和消費者會購買其產品時會增加廣告支出。</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>字母表的報告對 <strong>Meta Platforms</strong> 和亞馬遜也有利，這兩家公司分別是全球第二和第三大數字廣告業務。</p>
</div><h2>The index fund to buy now</h2>
<div class="lb-trans"><h2>現在值得購買的指數基金</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>雖然字母表的報告對其股票本身是看漲的，但它也是對以科技為中心的指數基金 <strong>Invesco QQQ Trust</strong>（QQQ 0.74%）的買入信號，該基金是追蹤納斯達克 100 指數的最大交易所交易基金（ETF），該指數由 100 家最大的納斯達克上市公司組成。</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>字母表的報告顯示，估值達到萬億美元的公司仍有許多增長途徑。這些途徑包括廣告、雲計算和人工智能，而這七大巨頭股票佔納斯達克 100 指數近 40%，顯示它們正在引領該 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>納斯達克 100 指數在過去十年中以 18% 的複合年增長率長期跑贏 <strong>標準普爾 500 指數</strong>，得益於頂尖科技股的優越增長。該指數在人工智能時代看起來有望繼續超越廣泛市場指數。</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>最後，字母表的報告強烈表明，像微軟、亞馬遜和 Meta 這樣的競爭對手也將發佈出色的財報。</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>如果那樣的話，它應該會推動納斯達克 100 在財報季節達到新高。Invesco QQQ ETF 仍然是利用大型科技公司在人工智能及其他領域增長的最簡單方式。</p>
</div>

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

- Alphabet 第三季度營收增長 15%，達到 775 億美元，超出預期。  
- 廣告和雲業務表現強勁，雲收入增長 35%，運營利潤大幅提升。  
- 此報告對整體市場信心有積極影響，可能推動納斯達克 100 指數上漲。

抱歉，股市空頭：Alphabet 剛剛證明了為什麼這個頂級指數基金仍然值得買入