Alphabet Q4 Earnings Report 2024

On By Littum

Sundar Pichai, CEO of Google and Alphabet, participates in the inauguration of a new hub in France dedicated to the Sector of Artificial Intelligence (AI) at Google France’s headquarters in Paris, France, February 15, 2024.

Gonzalo Fuentes | Reuters

Google Parent Company Alphabet Shares fell as much as 8% in trading after hours Tuesday after the company reported results in the fourth quarter that missed the revenue expectations.

The company also announced that it was planning to invest $ 75 billion in capital costs by 2025 as it continues to expand its artificial intelligence strategy. Earnings per Share beat analyst estimates after two cents.

Here are the numbers:

  • Revenue: $ 96.47 billion against $ 96.56 billion expected by LSEG
  • Earnings per Stock: $ 2.15 vs. $ 2.13 Expected by LSEG

Here are other numbers Wall Street watching:

  • YouTube advertising revenue: 10.47 billion dollars against $ 10.23 billion according to StreetAccount
  • Google Cloud Revenue: $ 11.96 billion against $ 12.19 billion according to StreetAccount
  • Traffic acquisition costs (TAC): $ 14.89 billion against $ 15.01 billion according to StreetCount

Alphabet’s net income in the fourth quarter rose to $ 26.54 billion compared to $ 20.69 billion in the previous year.

The company also reported disappointing cloud revenue to $ 11.96 billion over the quarter compared to $ 12.19 billion, expected by Wall Street. However, the unit’s turnover is still an increase of 30% from the previous year.

This is breaking news. Please check back for updates.

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