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.
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.
$Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ $Meta Platforms (META.US)$ $Amazon (AMZN.US)$ $Apple (AAPL.US)$ $Tesla (TSLA.US)$ $NVIDIA (NVDA.US)$ $Invesco QQQ Trust (QQQ.US)$ $Invesco NASDAQ 100 ETF (QQQM.US)$ $SPDR S&P 500 ETF (SPY.US)$ $iShares Russell 2000 ETF (IWM.US)$ $Vanguard S&P 500 ETF (VOO.US)$ $Invesco S&P 500 Momentum Etf (SPMO.US)$ $ProShares UltraPro QQQ ETF (TQQQ.US)$ $Microsoft (MSFT.US)$ $Netflix (NFLX.US)$ $Palantir (PLTR.US)$ $Trump Media & Technology (DJT.US)$ $MicroStrategy (MSTR.US)$
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