The second-quarter earnings season has been a mixed bag, with several companies beating estimates but issuing a lower-than-expected guidance. Ongoing concerns about recession and the delay in Fed rate cut have also put investors in worry. However, several companies have reported impressive financials despite inflation concerns. These companies have survived the worst and are bracing for a strong second half of 2024. I’ve picked three stocks to buy after the strong Q2 earnings.

The current dip in the market is a chance for you to load up on standout stocks that can report another strong quarter and take the stock higher. These three companies have impressed investors with their financials and will continue with the same momentum in the coming months.

They already show signs of a strong third quarter, which will be reflected in the next quarterly results. Buy these standout stocks while they trade at a discount.

Uber (UBER)

Up 6% year-to-date and 44% in the past 12 months, Uber (NYSE:UBER) stock is exchanging hands for $65. The company beat analyst expectations, and its top and bottom lines increased compared to the previous quarter. For the second quarter, the company saw a 16% year-over-year jump in revenue to $10.7 billion and earnings per share came in at 47 cents. 

Gross bookings grew 23% from a year ago as more people started to return to the office. Ride-sharing segment revenue soared 25% and generated $6.13 billion, while the delivery business generated $3.29 billion. The mobility segment has shown the highest growth, and the monthly active platform users have also seen a significant increase. 

There were concerns about Uber losing market share to robotaxis, but I think they are overblown. Robotaxis haven’t become mainstream yet and many consumers do not trust them. Uber’s business model is going to thrive for the next few years and it has nothing to worry about robo taxi companies. 

Uber is in a very strong position to benefit from the pent-up travel demand, people returning to offices, and the rising demand for ride-sharing. This will help the stock move higher and it could hit $75 in the coming months. For the third quarter, the company is aiming for bookings between $40.25 billion to $41.75 billion. 

With more people using the platform more frequently, Uber is only getting stronger. It also shows that it is one of the most trusted platforms globally.

SoFi Technologies (SOFI)

Fintech giant SoFi Technologies (NASDAQ:SOFI) hasn’t disappointed investors since the start of the year, however, it hasn’t reflected in the stock price. Trading at $6, SOFI stock is down 36% in 2024and hasn’t been able to hit double digits this year.

An interest rate cut, strong financial health, and impressive fundamentals could help the stock move higher soon. It is set for a rebound and the stock may not be available for cheap in the next few months. 

The company is aiming for double-digit growth in the coming years. SoFi beat expectations in the second-quarter results, strengthening its bull case. The financial services and tech division makes up 45% of the company’s total revenue. A rate cut later this year could show a strong comeback of the lending segment and help boost the company’s bottom line. 

SoFi saw a 20% year-over-year jump in net revenue and a 41% growth in members to reach 8.8 billion. Following the strong numbers, management raised full-year guidance and aims to deliver a net revenue between $2.42 billion to $2.46 billion and EPS in the range of 9 cents to 10 cents.

SoFi aims to focus on the financial services segment, which is expected to grow at 80%, and the tech segment to grow in the mid-to-high teens. It is aiming to add another 2.3 million members this year. SOFI is one of the best stocks to buy after Q2 earnings.

I believe SoFi has proved its strength and has attracted new users at an impressive rate. It is one of the best fintech stocks that can double your money in 2025.

Alphabet (GOOG, GOOGL)

Global giant Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) beat Q2 revenue and profit estimates but missed YouTube ad revenue. However, it is a legacy business worth adding to your portfolio.

Missing on a segment revenue for one quarter speaks nothing about the company. Alphabet is a solid business with a massive market share. No competitor has been able to disrupt its market dominance, and I don’t think any company will be able to do so for the next five years. 

Known for Google search and YouTube, the company’s revenue jumped 14% from a year ago to $85 billion. Revenue for the cloud segment hit $10 billion and the operating profit hit $1 billion for the first time. Its ad revenue came in at $64.6 billion, which is the biggest revenue generator for the business.

With a rate cut and an improvement in spending, Alphabet could see strong growth in the ad revenue segment. EPS stood at $1.89 a share and YouTube ad revenue came in at $8.66 billion. 

The company is a cash cow with over $15 billion in subscription revenue from the cloud business and YouTube premium. It invests in artificial intelligence to maintain its momentum and remain at the top. It spent $13 billion in capital expenditures in the quarter and the company has enough liquidity to keep investing in the business. 

A long-term investor will never regret holding Alphabet stock. 

On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.