Alphabet/Google Revenues Up 12 Percent to $96.47 Billion

Google’s parent company Alphabet announced it earned a net income of $26.5 billion on revenues of $96.5 billion in the quarter ending December 31, 2024. Those figures represent gains of 28 percent and 12 percent year-over-year (YOY), respectively.

Alphabet also announced its full-year 2024 earnings: A net income of $100 billion (up 36 percent YOY) on revenues of $350 billion (up 15 percent YOY).

“Q4 was a strong quarter driven by our leadership in AI and momentum across the business,” Alphabet and Google CEO Sundar Pichai said. “We are building, testing, and launching products and models faster than ever, and making significant progress in compute and driving efficiencies. In Search, advances like AI Overviews and Circle to Search are increasing user engagement. Our AI-powered Google Cloud portfolio is seeing stronger customer demand, and YouTube continues to be the leader in streaming watch time and podcasts.”

Mr. Pichai also revealed that Alphabet/Google intends to invest about $75 billion in AI infrastructure-based capital expenditures in 2025, similar to the $80 billion figure that Microsoft recently revealed.

Google’s advertising business–which encompasses Google Search and other, YouTube ads, and Google Network, contributed $72.5 billion in revenues in the quarter. So advertising accounted for about 75 percent of Alphabet’s overall revenues, with the business growing about 9.6 percent YOY by revenues.

Google subscriptions, platforms, and devices brought in $11.6 billion in revenues, up 7.2 percent YOY. And Google Cloud delivered about $12 billion in revenues, up 23 percent YOY. Alphabet’s Other Bets and “Alphabet-level activities” brought in negligible revenues, and each produced a net loss.