Alphabet Q3 Earnings Report

👉 Business Highlights:

➡️ Revenues increased 15% to $88.3 billion, with constant currency growth at 16%.

➡️ Google Services revenue grew 13% to $76.5 billion, led by Search, YouTube, and Google platforms.

➡️ Google Cloud revenues rose 35% to $11.4 billion, driven by AI infrastructure and Generative Al solutions.

➡️ Operating income grew 34% to $28.5 billion, with margins expanding to 32%.

➡️ Net income surged 34% year-over-year to $26.3 billion, reflecting increased operational efficiency.

➡️ Announced cash dividend of $0.20 per share, payable December 16, 2024.

➡️ Total TAC rose slightly to $13.7 billion, reflecting ongoing investments in traffic acquisition.

👉 CEO Statement:

“The momentum across the company is extraordinary. Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tools,” said Sundar Pichai, CEO. “In Cloud, our AI solutions are helping drive deeper product adoption with existing customers, attract new customers, and win larger deals. We generated strong revenue growth in the quarter, and our ongoing efforts to improve efficiency helped deliver improved margins.”