Patel stated that it is hard to look at Google's earnings without looking at Samsung (SAMSUNG ELECTRONIC KRW5000,/strong> SSNLF)'s earnings, which were "incredible" and driven by strong sales of its flagship phone, the Galaxy S7. This indicates that "Android side of the Google house is doing very well."
The other side of Google's story focuses on distributing and monetizing content. Alphabet's second=quarter print on Thursday reinforced the fact that Google owns two of the most "important icons" on a mobile phone.
"If you open a browser you are going to do a mobile search — Google is doing a great job of owning and monetizing mobile search," he said. "You are going to watch a video, Google obviously has a ton of challengers around YouTube... but they are still YouTube."
As a side note, Patel also stated that Alphabet's earnings also indicate that its enterprise business is "doing better."
A shares of Alphabet (GOOGL) were trading higher by 4 percent at $796.47, while C shares (GOOG) were up 3.61 percent at $772.82 at time of writing.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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