Alphabet, Google's parent company, will post third-quarter results on its investor site on Wednesday, Oct. 28, before its 1:30 p.m. PT conference call.

Why it matters: Alphabet is the Bay Area's most valuable company reporting next week. It is worth about $4.1 trillion, using Nasdaq figures cited by StockTitan. It reports a few hours after the Fed's rate decision.

The estimates

  • MarketBeat's consensus is $3.03 a share on $127.92 billion in revenue. That compares with $2.87 a share on $102.35 billion a year ago.
  • The Nasdaq consensus cited by StockTitan is a bit lower, at $2.94 a share.
  • Last quarter Alphabet reported $9.11 a share on $119.8 billion in revenue, according to MarketBeat.

What to watch

  • Google Cloud. Cloud revenue grew 82% to $24.8 billion in the second quarter, StockTitan noted. Alphabet does not give a quarterly forecast.
  • A one-time boost. Second-quarter earnings were inflated by a large gain on shares Alphabet holds in other companies. That makes last quarter's per-share figure a poor comparison for this one.
  • The stock. Shares closed at $317.28 on Friday, Oct. 23, down 1.1% that day.

Related: Bay Area earnings week ahead.

Sources: Alphabet Investor Relations, MarketBeat and StockTitan.