Google Q3 FY24 Earnings

Google parent Alphabet reported Q3 earnings, which beat on top and bottom lines. The company’s shares rose 4% on the results.
Alphabet’s revenue grew 15% year over year, which is stronger than the same quarter last year.
The company reported blow-out cloud revenue at $11.35 billion — up nearly 35% from the $8.41 billion a year ago. The company attributed its strong cloud results to their AI offerings, which includes subscriptions for enterprise customers.

$GOOG Alphabet Q3 FY24:
• Revenue +15% Y/Y to $88.3B ($2.0B beat).
• Operating margin 32% (+4pp Y/Y).
• EPS $2.12 ($0.27 beat).

Google Cloud:
• Revenue +35% Y/Y to $11.4B.
• Operating margin 17% (+14pp Y/Y).

YouTube ads +12% to $8.9B.