Alphabet Inc., the parent company of Google, reported a 9% increase in consolidated revenues to $307.4 billion for the year ended December 31, 2023, compared to the previous year. The growth was primarily driven by an 8% rise in Google Services revenues and a significant 26% increase in Google Cloud revenues. Operating income also saw a 13% rise to $84.3 billion, with the operating margin improving by 1%. Net income surged by 23% to $73.8 billion, and diluted earnings per share (EPS) grew by 27% to $5.80. The company's financial performance was bolstered by user behavior shifts to online platforms and diverse device usage, which allowed for new advertising formats. Despite a slowdown from the pandemic's peak growth rates, Alphabet anticipates continued benefits from the digital economy's evolution. Alphabet's...Show More

Alphabet Inc., the parent company of Google, reported a 9% increase in consolidated revenues to $307.4 billion for the year ended December 31, 2023, compared to the previous year. The growth was primarily driven by an 8% rise in Google Services revenues and a significant 26% increase in Google Cloud revenues. Operating income also saw a 13% rise to $84.3 billion, with the operating margin improving by 1%. Net income surged by 23% to $73.8 billion, and diluted earnings per share (EPS) grew by 27% to $5.80. The company's financial performance was bolstered by user behavior shifts to online platforms and diverse device usage, which allowed for new advertising formats. Despite a slowdown from the pandemic's peak growth rates, Alphabet anticipates continued benefits from the digital economy's evolution. Alphabet's business development has been marked by the expansion of product offerings and international market growth, particularly in emerging economies. The company's future plans include significant investments in AI and technical infrastructure to support long-term growth. Alphabet also plans to continue investing in its workforce and expects to face evolving regulatory environments that could impact business practices and financial results. The company's capital expenditures for the year totaled $32.3 billion, reflecting investments in technical infrastructure. As of December 31, 2023, Alphabet had 182,502 employees.