Google-parent Alphabet on Wednesday said its YouTube Shorts, a short-form video rival to TikTok, now has 1.5 billion monthly logged-in users globally. Google stock rose on the news as the Nasdaq composite also gained.
At 1.5 billion monthly users, "YouTube Shorts" would surpass the most recent numbers released by TikTok. In September, TikTok said its app had more than 1 billion monthly active users.
Amid growing competition with TikTok, Google has been disclosing more metrics for YouTube Shorts. On its first-quarter earnings call, Google said YouTube Shorts had more than 30 billion views per day — four times more views than a year earlier.
In addition, Google said YouTube is testing advertising in the short-form video service. Monetizing YouTube Shorts could give Google a boost.
Google Stock: TikTok Ad Revenue Booming
TikTok's global ad revenue will jump 200% in 2022 to $11.64 billion, forecasts InsiderIntelligence.com.
YouTube missed its first-quarter revenue target. YouTube advertising revenue rose 14% to $6.87 billion, short of analyst estimates for $7.21 billion.
Alphabet has not disclosed YouTube's profitability.
Google stock rose 2.9% to 2,195.29 on the stock market today. Shares have retreated 25% thus far in 2022.
TikTok is owned by Beijing-based ByteDance.
Low Rating For Google
Meanwhile, Google's Relative Strength Rating is only 38 out of a best possible 99, according to IBD Stock Checkup. The best stocks tend to have an RS rating of 80 or better.
Google stock owns an Accumulation/Distribution Rating of E. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading.
The rating, on an A+ to E scale, measures institutional buying and selling in a stock. A+ signifies heavy institutional buying; E means heavy selling. Think of the C grade as neutral.
If you're new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines.
IBD offers a broad range of growth stock lists, such as Leaderboard. Investors also can create watchlists for issues such as Google stock, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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