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Jun 30, 2024
Alphabet Q2 2024 Earnings Report
Alphabet's Q2 2024 financial results were announced, demonstrating strong performance in Search and momentum in Cloud.
Key Takeaways
Alphabet Inc. reported revenues of $84.742 billion, up 14% year-over-year, driven by Search and Cloud, with Cloud exceeding $10 billion in quarterly revenues and $1 billion in operating profit. The company's ongoing investments in AI and infrastructure are expected to support future growth opportunities.
Revenues reached $84.742 billion, a 14% increase year-over-year.
Google Cloud revenue exceeded $10 billion for the first time, with over $1 billion in operating profit.
Operating income was $27.425 billion, representing a 32% operating margin.
Net income was $23.619 billion, with diluted EPS of $1.89.
Revenue by Segment
Forward Guidance
Alphabet anticipates continued growth and innovation, focusing on AI advancements and infrastructure development. The company is committed to re-engineering its cost base to create investment capacity for future opportunities.
Positive Outlook
- Strong performance in Search.
- Momentum in Cloud.
- Innovation at every layer of the AI stack.
- Longstanding infrastructure leadership.
- Commitment to creating investment capacity.
Challenges Ahead
- Potential risks and uncertainties in forward-looking statements.
- Fluctuations in investment values due to market dynamics.
- Impact of foreign exchange rate movements.
- Uncertainties related to AI development and deployment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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