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8-K: Alphabet Announces Second Quarter 2024 Results

SEC ·  Jul 23, 2024 20:05

Summary by Moomoo AI

Alphabet reported strong Q2 2024 financial results with revenues reaching $84.7B, up 14% YoY, driven by robust performance in Search and Cloud segments. Operating income increased to $27.4B with a 32% margin, while net income rose to $23.6B with EPS of $1.89.Google Cloud achieved a significant milestone, exceeding $10B in quarterly revenue for the first time and generating $1.2B in operating profit. Google Services revenue grew to $73.9B, while Search revenue increased to $48.5B. The company's ongoing cost optimization efforts and AI innovations across its technology stack continue to drive growth.The board declared a quarterly cash dividend of $0.20 per share for Class A, B, and C shares, payable on September 16, 2024, to stockholders of record as of September 9, 2024. The company maintains strong liquidity with $100.7B in cash and marketable securities.
Alphabet reported strong Q2 2024 financial results with revenues reaching $84.7B, up 14% YoY, driven by robust performance in Search and Cloud segments. Operating income increased to $27.4B with a 32% margin, while net income rose to $23.6B with EPS of $1.89.Google Cloud achieved a significant milestone, exceeding $10B in quarterly revenue for the first time and generating $1.2B in operating profit. Google Services revenue grew to $73.9B, while Search revenue increased to $48.5B. The company's ongoing cost optimization efforts and AI innovations across its technology stack continue to drive growth.The board declared a quarterly cash dividend of $0.20 per share for Class A, B, and C shares, payable on September 16, 2024, to stockholders of record as of September 9, 2024. The company maintains strong liquidity with $100.7B in cash and marketable securities.
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