Alphabet today announced Q4 2024 earnings with $96.47 billion in revenue. These numbers range from October to December, with the company also reporting fiscal year 2024 results.
Revenue is up 12% from $86.31 billion in Q4 2023, with operating income at $30.97 billion and net income of $26.54 billion for this quarter (versus $20.69 billion a year ago). For comparison, Alphabet reported $88.3 billion in revenue and $19.69 billion in net income last quarter.
Q4 was a strong quarter driven by our leadership in AI and momentum across the business. 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 watchtime and podcasts. Together, Cloud and YouTube exited 2024 at an annual revenue run rate of $110 billion. Our results show the power of our differentiated full-stack approach to AI innovation and the continued strength of our core businesses. We are confident about the opportunities ahead, and to accelerate our progress, we expect to invest approximately $75 billion in capital expenditures in 2025.
Sundar Pichai, CEO
In Q4 2024, YouTube ad revenue was $10.47 billion (versus $9.2 billion a year ago), while Cloud reported $11.96 billion (compared to $9.19 billion).
“Google subscriptions, platforms, and devices” (previously “Google other”) — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $11.63 billion, compared to $10.79 billion the same quarter last year. This quarter includes the busy holiday shopping season.
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“Other Bets” continues to lose money. It reported $400 million in revenue compared to $657 million in Q4 of 2023. It lost $1.17 billion compared to $863 million in the same quarter of last year.
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