Alphabet’s Strong Q1’24 Performance: Earnings Highlights and Strategic Insights
Alphabet Q1’24 Earnings Highlights:
Earnings Per Share (EPS):
– Reported EPS: $1.89 (Estimated: $1.53); Increased +24% YoY
Total Revenue:
– Reported Revenue: $80.54B (Estimated: $79.04B); Increased +15% YoY
Operating Income:
– Reported Operating Income: $25.47B (Estimated: $22.4B); Increased +14% YoY
Operating Margin:
– Operating Margin: 32% (Estimated: 28.6%); Increased by +7 percentage points (pp) YoY
Announcements:
– First-ever dividend declared: $0.20/share
– Approved $70B share buyback
Google Cloud:
– Revenue: $9.57B (Estimated: $9.37B); Increased +28% YoY
– Operating Income: $900M (Estimated: $672.4M); Increased +371% YoY
– Operating Margin: 9% (+7pp YoY)
Google Services:
– Revenue: $70.4B (Estimated: $69.06B); Increased +14% YoY
– Operating Income: $27.90B (Estimated: $24.3B); Increased +15% YoY
– Google Search & Other Revenue: $46.16B
– YouTube Ads Revenue: $8.09B (Estimated: $7.73B); Increased +21% YoY
Other Bets:
– Revenue: $495M (Estimated: $372.4M); Increased +33% YoY
– Operating Loss: $1.02B (Estimated Loss: $1.12B); Loss reduced by 9% YoY
Google Advertising:
– Revenue: $61.66B (Estimated: $60.18B); Increased +13% YoY
Key Metrics and Other Information:
– Capital Expenditure: $12.01B (Estimated: $10.32B); Increased +16% YoY
– Number of Employees: 180,895
– Traffic Acquisition Costs: $12.95B
CEO Sundar Pichai’s Commentary:
– “Results in Q1 reflect strong performance from Search, YouTube, and Cloud. We’re well underway with Gemini and seeing great momentum across the company, with a leadership position in AI research and infrastructure.”
President and CIO Ruth Porat’s Commentary:
– “Strong financial results for the first quarter reflect revenue strength across the company and ongoing efforts to durably reengineer the cost base.”
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