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.”
Stay informed with our financial updates, stocks, bonds, commodities. Get global & political insights. Follow us & enable notifications for the latest updates.
One thought on “Alphabet’s Strong Q1’24 Performance: Earnings Highlights and Strategic Insights”