Google’s parent firm Alphabet is rolling out its financial records for Q2 of 2024 and it’s safe to say that there’s been an increase in revenue.
Figures struck $84.7B which was a rise of 14% when compared to the same time last year. On the other hand, the net income also rose to $23.6B when compared to 2023.
As usual, the company’s search sector was responsible for generating the greatest revenue which was $48.5B but another note worth mentioning is how its Cloud division was also able to bring in a huge revenue figure for the first time that stood at $10B.
Revenue from tech giant YouTube’s division stood at $8.67B for this quarter. This was up from the previous $7.6B that was recorded last year. The figures today were not the true representation of what analysts were expecting from Google as mentioned by CNBC.
The firm’s Other Bets domain which entails its sef-driving Waymo division managed to bring in a massive $365M for this quarter. This was up from the previous $285M that arose at the same time last year.
Sundar Pichai was quick to highlight the ordeal and mentioned that the company’s strong performance for this quarter was a clear representation of its great strength when it comes to Cloud and Search. The firm is also working on innovations for its AI Stack. The infrastructure and research teams are positioning the organization into a stronger leadership role as the world of tech keeps evolving.
Meanwhile, the company’s shares rose by 1% in the after-hour period of trading as it seems like traders are appreciating the figures despite the company missing out on predicted revenue for YouTube ads this time.
Image: DIW-Aigen
Read next: Social Media Content Creation Is More Alluring Than Classic Jobs For Most People, New Study Proves
Figures struck $84.7B which was a rise of 14% when compared to the same time last year. On the other hand, the net income also rose to $23.6B when compared to 2023.
As usual, the company’s search sector was responsible for generating the greatest revenue which was $48.5B but another note worth mentioning is how its Cloud division was also able to bring in a huge revenue figure for the first time that stood at $10B.
Revenue from tech giant YouTube’s division stood at $8.67B for this quarter. This was up from the previous $7.6B that was recorded last year. The figures today were not the true representation of what analysts were expecting from Google as mentioned by CNBC.
The firm’s Other Bets domain which entails its sef-driving Waymo division managed to bring in a massive $365M for this quarter. This was up from the previous $285M that arose at the same time last year.
Sundar Pichai was quick to highlight the ordeal and mentioned that the company’s strong performance for this quarter was a clear representation of its great strength when it comes to Cloud and Search. The firm is also working on innovations for its AI Stack. The infrastructure and research teams are positioning the organization into a stronger leadership role as the world of tech keeps evolving.
Meanwhile, the company’s shares rose by 1% in the after-hour period of trading as it seems like traders are appreciating the figures despite the company missing out on predicted revenue for YouTube ads this time.
Read next: Social Media Content Creation Is More Alluring Than Classic Jobs For Most People, New Study Proves
