CHART: Google's parent company Alphabet reported an $88 billion revenue in Q3 2024
Google's Search and Cloud helped to boost Alphabet to double-digit revenue growth.
- Revenue jumped 15% to $88.3 billion while net income soared 34% to $26 billion
- Growth was fueled by Google Search, which brought in $49.3 billion, up 12% YoY
- A strategic pivot toward AI helped with the success across all its services.
Alphabet, the parent company of Google, exceeded Wall Street’s expectations with a robust third-quarter performance, showcasing impressive growth across its core businesses.
Reporting a 15% revenue increase to $88.3 billion, Alphabet easily surpassed analysts' forecast of $86.3 billion, demonstrating the effectiveness of its focused cost management.
This financial discipline helped net income soar 34% compared to the previous year, reaching $26 billion, or $2.12 per share—a significant improvement from $1.55 per share last year.
