Google Alphabet's revenues, net income up in 4th quarter of 2024

By Mucahithan Avcioglu

ISTANBUL (AA) - Alphabet, the parent company of US tech giant Google, saw a rise in both revenues and net income in the last quarter of 2024 compared to the same period in 2023, according to figures released on Wednesday.

Alphabet's revenue in the last quarter of last year rose 12% compared to the same period of the previous year to $96.5 billion.

The company's net income also jumped 28% to $26.5 billion in the same period.

The company's earnings per share rose from $1.64 in the last quarter of 2023 to $2.15 in the same period last year.

Alphabet's revenues remained below expectations in the last quarter of 2024, while its net income beat forecasts.

Yearly, the company's revenues for last year rose 14% to $350 billion in 2024, and its net income soared 36% to $100.1 billion compared to 2023.

“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," said Sundar Pichai, Alphabet's CEO.