11:27 AM EST, 01/31/2025 (MT Newswires) -- Alphabet's (GOOGL, GOOG) Q4 results due on Feb. 4 will likely show that the company is benefitting from upside from its advertisement business, BofA Securities said in a note on Friday.

Meta Platforms' ( META ) 4Q ad revenue beat and e-commerce vertical comments are a "positive read across" for Alphabet's Q4 results, the note said, adding that a channel check also suggested that artificial intelligence overview ads may have helped Google Search pricing.

BofA said it recently decreased its estimates for the company due to a recent appreciation of the US dollar, but said it believes Alphabet could beat Q4 consensus estimates as Meta didn't see a Q4 foreign exchange impact and showed e-commerce ad spend strength.

The investment firm noted that the average number of job postings in the company in Q4 fell 7% quarter-on-quarter, which indicates "continued cost focus." With Alphabet's new Chief Financial Officer Anat Ashkenazi there's also a potential for additional "self-help cost actions," the note said.

BofA has a buy rating on Alphabet and $225 price target.

GOOGL and GOOG shares were up 1.8% in recent trading.

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