Alphabet Inc
GOOGL
$315.93 -1.66%
Exchange: NASDAQ | Sector: Technology | Industry: Internet Content Information
Q3 2024
Published: Oct 30, 2024

Earnings Highlights

  • Revenue of $88.27B up 15.1% year-over-year
  • EPS of $2.12 increased by 36.3% from previous year
  • Gross margin of 58.7%
  • Net income of 26.30B
  • ""Our commitment to AI infrastructure has significantly lowered our costs while offering our customers unparalleled tools and efficiencies."" - Sundar Pichai
GOOGL
Alphabet Inc

Executive Summary

Alphabet Inc reported strong Q3 2024 results, driven by a notable 15% increase in revenue year-on-year to $88.27 billion. This growth underscores the company's robust market position, particularly in Google Cloud, which achieved a substantial 35% revenue increase. The earnings report emphasized the company's ongoing commitment to artificial intelligence (AI) as a core growth strategy, igniting positive market sentiment. Net income rose to $26.30 billion, reflecting a 34% increase year-on-year, which translates to $2.12 per diluted share. These results solidify Alphabet's resilience against prevailing market challenges and highlighted their investment focus on AI infrastructure and product innovation, positioning the company for sustained growth.

Key Performance Indicators

Revenue
Increasing
88.27B
QoQ: 4.29% | YoY: 15.09%
Gross Profit
Increasing
51.79B
58.68% margin
QoQ: 5.42% | YoY: 19.17%
Operating Income
Increasing
28.52B
QoQ: 4.00% | YoY: 33.63%
Net Income
Increasing
26.30B
QoQ: 11.36% | YoY: 33.58%
EPS
Increasing
2.14
QoQ: 12.04% | YoY: 36.31%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 96,469.00 2.15 +11.8% View
Q3 2024 88,268.00 2.12 +15.1% View
Q2 2024 84,640.00 1.89 +13.5% View
Q1 2024 80,467.00 1.89 +15.3% View
Q4 2023 86,310.00 1.64 +13.5% View