
How to Read an Earnings Report: EPS, Guidance, and Consensus
When Alphabet’s Q2 2026 EPS beat consensus by 216% the stock still fell. A framework for separating the surprise, one-off gains, and guidance — with Alphabet’s quarter as a worked example.

When Alphabet’s Q2 2026 EPS beat consensus by 216% the stock still fell. A framework for separating the surprise, one-off gains, and guidance — with Alphabet’s quarter as a worked example.