Subtext

GOOG

SectorCommunication Services
Transcripts45
Date range2014-04-17 – 2025-04-24
Calls charted45

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-22-11+0+11+222014 Q12015 Q32017 Q12018 Q32020 Q12021 Q32023 Q12024 Q32014 Q1 · Overall: +7.92014 Q2 · Overall: +7.22014 Q3 · Overall: +9.82014 Q4 · Overall: +3.92015 Q1 · Overall: +11.52015 Q2 · Overall: +10.72015 Q3 · Overall: +10.92015 Q4 · Overall: +14.42016 Q1 · Overall: +15.42016 Q2 · Overall: +13.82016 Q3 · Overall: +14.72016 Q4 · Overall: +13.72017 Q1 · Overall: +17.62017 Q2 · Overall: +12.32017 Q3 · Overall: +13.72017 Q4 · Overall: +13.12018 Q1 · Overall: +15.62018 Q2 · Overall: +14.72018 Q3 · Overall: +13.62018 Q4 · Overall: +15.22019 Q1 · Overall: +11.82019 Q2 · Overall: +9.72019 Q3 · Overall: +12.12019 Q4 · Overall: +10.62020 Q1 · Overall: +6.42020 Q2 · Overall: +9.92020 Q3 · Overall: +13.22020 Q4 · Overall: +11.02021 Q1 · Overall: +12.72021 Q2 · Overall: +11.22021 Q3 · Overall: +9.82021 Q4 · Overall: +14.22022 Q1 · Overall: +0.02022 Q2 · Overall: +5.22022 Q3 · Overall: +4.72022 Q4 · Overall: +3.42023 Q1 · Overall: +14.42023 Q2 · Overall: +15.12023 Q3 · Overall: +17.62023 Q4 · Overall: +8.42024 Q1 · Overall: +12.22024 Q2 · Overall: +19.62024 Q3 · Overall: +17.62024 Q4 · Overall: +17.12025 Q1 · Overall: +15.6
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-8-4+0+4+82014 Q12015 Q32017 Q12018 Q32020 Q12021 Q32023 Q12024 Q32014 Q1 · CFO: +6.72014 Q2 · CFO: +3.8
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-50-25+0+25+502014 Q12015 Q32017 Q12018 Q32020 Q12021 Q32023 Q12024 Q32014 Q1 · Prepared remarks: +14.02014 Q2 · Prepared remarks: +12.82014 Q3 · Prepared remarks: +17.32014 Q4 · Prepared remarks: +10.92015 Q1 · Prepared remarks: +15.82015 Q2 · Prepared remarks: +18.32015 Q3 · Prepared remarks: +16.62015 Q4 · Prepared remarks: +19.32016 Q1 · Prepared remarks: +20.82016 Q2 · Prepared remarks: +21.12016 Q3 · Prepared remarks: +18.32016 Q4 · Prepared remarks: +21.82017 Q1 · Prepared remarks: +24.32017 Q2 · Prepared remarks: +17.72017 Q3 · Prepared remarks: +18.02017 Q4 · Prepared remarks: +21.72018 Q1 · Prepared remarks: +21.12018 Q2 · Prepared remarks: +17.52018 Q3 · Prepared remarks: +16.82018 Q4 · Prepared remarks: +18.42019 Q1 · Prepared remarks: +17.12019 Q2 · Prepared remarks: +19.82019 Q3 · Prepared remarks: +6.32019 Q4 · Prepared remarks: +14.92020 Q1 · Prepared remarks: +6.52020 Q2 · Prepared remarks: +12.02020 Q3 · Prepared remarks: +22.82020 Q4 · Prepared remarks: +7.22021 Q1 · Prepared remarks: +17.62021 Q2 · Prepared remarks: +14.32021 Q3 · Prepared remarks: +14.42021 Q4 · Prepared remarks: +18.22022 Q1 · Prepared remarks: +16.92022 Q2 · Prepared remarks: +30.92022 Q3 · Prepared remarks: +3.32022 Q4 · Prepared remarks: +14.82023 Q1 · Prepared remarks: +43.72023 Q2 · Prepared remarks: +24.22023 Q3 · Prepared remarks: +22.82023 Q4 · Prepared remarks: +28.82024 Q1 · Prepared remarks: +40.32024 Q2 · Prepared remarks: +24.82024 Q3 · Prepared remarks: +22.62024 Q4 · Prepared remarks: +19.72025 Q1 · Prepared remarks: +20.82014 Q1 · Q&A responses: +6.02014 Q2 · Q&A responses: +5.42014 Q3 · Q&A responses: +6.62014 Q4 · Q&A responses: -0.42015 Q1 · Q&A responses: +14.82015 Q2 · Q&A responses: +11.12015 Q3 · Q&A responses: +14.92015 Q4 · Q&A responses: +16.62016 Q1 · Q&A responses: +18.32016 Q2 · Q&A responses: +13.82016 Q3 · Q&A responses: +20.82016 Q4 · Q&A responses: +11.92017 Q1 · Q&A responses: +20.92017 Q2 · Q&A responses: +38.52017 Q3 · Q&A responses: +20.02017 Q4 · Q&A responses: +15.62018 Q1 · Q&A responses: +19.72018 Q2 · Q&A responses: +19.72018 Q3 · Q&A responses: +18.22018 Q4 · Q&A responses: +19.42019 Q1 · Q&A responses: +15.22019 Q2 · Q&A responses: +16.22019 Q3 · Q&A responses: +22.42019 Q4 · Q&A responses: +16.52020 Q1 · Q&A responses: +11.12020 Q2 · Q&A responses: +16.62020 Q3 · Q&A responses: +20.02020 Q4 · Q&A responses: +17.22021 Q1 · Q&A responses: +12.62021 Q2 · Q&A responses: +13.02021 Q3 · Q&A responses: +14.12021 Q4 · Q&A responses: +16.62022 Q1 · Q&A responses: +9.52022 Q2 · Q&A responses: +15.32022 Q3 · Q&A responses: +12.92022 Q4 · Q&A responses: +11.42023 Q1 · Q&A responses: +16.52023 Q2 · Q&A responses: +24.52023 Q3 · Q&A responses: +22.42023 Q4 · Q&A responses: +19.82024 Q1 · Q&A responses: +16.62024 Q2 · Q&A responses: +20.52024 Q3 · Q&A responses: +20.22024 Q4 · Q&A responses: +24.32025 Q1 · Q&A responses: +20.5
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.91$4.96$9.002014 Q12015 Q32017 Q12018 Q32020 Q12021 Q32023 Q12024 Q32014 Q4: $1.472015 Q1: $1.492015 Q2: $1.532015 Q3: $1.632015 Q4: $1.712016 Q1: $1.802016 Q2: $1.832016 Q3: $1.952016 Q4: $2.052017 Q1: $1.742017 Q2: $1.852017 Q3: $1.882017 Q4: $2.082018 Q1: $2.162018 Q2: $2.292018 Q3: $2.292018 Q4: $2.362019 Q1: $2.442019 Q2: $2.482019 Q3: $2.702019 Q4: $2.712020 Q1: $2.782020 Q2: $2.422020 Q3: $2.682020 Q4: $3.062021 Q1: $3.632021 Q2: $4.552021 Q3: $5.232021 Q4: $5.612022 Q1: $6.052022 Q2: $6.122022 Q3: $5.712022 Q4: $5.262023 Q1: $5.332023 Q2: $5.792023 Q3: $6.382023 Q4: $6.632024 Q1: $7.062024 Q2: $8.072024 Q3: $8.45

Forward P/E

15.7123.3430.972014 Q12015 Q32017 Q12018 Q32020 Q12021 Q32023 Q12024 Q32014 Q4: 17.172015 Q1: 16.762015 Q2: 17.292015 Q3: 19.542015 Q4: 22.162016 Q1: 20.422016 Q2: 19.642016 Q3: 19.552016 Q4: 19.442017 Q1: 24.312017 Q2: 25.632017 Q3: 24.832017 Q4: 25.012018 Q1: 26.642018 Q2: 24.782018 Q3: 25.542018 Q4: 21.672019 Q1: 24.402019 Q2: 22.232019 Q3: 22.802019 Q4: 24.962020 Q1: 19.742020 Q2: 29.922020 Q3: 28.402020 Q4: 28.812021 Q1: 28.782021 Q2: 27.632021 Q3: 27.782021 Q4: 26.272022 Q1: 22.102022 Q2: 18.052022 Q3: 18.522022 Q4: 18.122023 Q1: 18.132023 Q2: 21.482023 Q3: 21.562023 Q4: 20.212024 Q1: 19.932024 Q2: 21.862024 Q3: 19.04

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2017 Q1 tone ↑ +3.9 fwd EPS ↓ -0.31 Tone rose while the forward EPS estimate was cut.
  • 2017 Q2 tone ↓ -5.3 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↓ -3.3 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q2 tone ↓ -2.2 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -4.2 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +3.5 fwd EPS ↓ -0.35 Tone rose while the forward EPS estimate was cut.
  • 2020 Q4 tone ↓ -2.2 fwd EPS ↑ +0.38 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -14.2 fwd EPS ↑ +0.44 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↓ -9.2 fwd EPS ↑ +0.25 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-24+15.6——View →
2024 Q42025-02-04+17.1——View →
2024 Q32024-10-29+17.6$8.4519.0View →
2024 Q22024-07-23+19.6$8.0721.9View →
2024 Q12024-04-25+12.2$7.0619.9View →
2023 Q42024-01-30+8.4$6.6320.2View →
2023 Q32023-10-24+17.6$6.3821.6View →
2023 Q22023-07-25+15.1$5.7921.5View →