The numbers reveal an exceptional performance, but what are the drivers behind this growth? Let’s dive into the details to better understand.
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A significant increase in advertising revenues
Alphabet reported total revenue of $84.742 billion between April and June 2024. This amount marks a 14% increase from the same period in 2023. Net income also saw an increase, from $18.4 billion to $23.6 billion.
Alphabet CEO Sundar Pichai highlighted the strength of Google's search engine and the cloud as key contributors to this performance. He also highlighted innovations in AI.
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Impressive figures for the Cloud
Google's cloud business generated more than $10 billion in Q2 2024, up from $8 billion the year before. For the first time, cloud exceeded $1 billion in operating profit in a quarter.
Despite a decline in YouTube ad revenue, total ad revenue increased significantly to $64.616 billion. This performance reassured investors.
Strategic investments despite losses
Alphabet continues to invest heavily in futuristic projects like Waymo, its subsidiary specializing in autonomous cars. A new investment of $5 billion was announced for this subsidiary, underlining Google's commitment to this field.
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Alphabet's “other bets,” including Waymo, generated revenue of $1.1 billion. However, these businesses also caused losses of $2.287 billion, up from $1.198 billion in 2023.
| 🔍 | Summary | |
|---|---|---|
| 📈 | Quarterly Revenues | $84.742 billion |
| 💵 | Net profit | $23.6 billion |
| ☁️ | Cloud Revenues | 10 billion dollars |
| 🚗 | Investment in Waymo | 5 billion dollars |
To better understand these results, here are some key points:
- Alphabet's quarterly revenue increased 14%.
- Total advertising revenue reached $64.616 billion.
- Cloud has surpassed $1 billion in operating income.
- Waymo continues to receive significant investment.
Google continues to invest in artificial intelligence to improve its products. The Google Research and Google DeepMind teams have been consolidated to accelerate progress in this area. Sundar Pichai mentioned that this innovation positions Google well for future opportunities.
Do these impressive financial results and Google's strategic investments surprise you? How do you see Google's future and its ambitious plans?
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