Google mother or father firm Alphabet reported a web revenue of $20.7 billion on revenues of $86.3 billion within the quarter ending December 31, 2023. These figures are up 34 p.c and 13 p.c, respectively, year-over-year (YOY).
That quarter was additionally the ultimate quarter of Alphabet’s fiscal yr 2023. For the total yr, the agency reported a web revenue of $73.8 billion on revenues of $307.4 billion, positive factors of 25 p.c and 9 p.c YOY.
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“We’re happy with the continued power in Search and the rising contribution from YouTube and Cloud.” Alphabet and Google CEO Sundar Pichai stated. “Every of those is already benefiting from our AI investments and innovation. As we enter the Gemini period, one of the best is but to return.”
$65.5 billion of the corporate’s revenues, or about 76 p.c, got here from promoting, with Google Search contributing $48 billion, YouTube adverts delivering $9.2 billion, and the Google promoting community including one other $8.3 billion. Total, Google’s promoting enterprise grew 10 p.c YOY.
Income from Google subscriptions, platforms, and gadgets grew 18.5 p.c to $10.8 billion within the quarter, whereas Google Cloud revenues jumped 20.4 p.c to $9.2 billion.
Google additionally took a $2.1 billion cost associated to severances and associated worker discount prices.
