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- On Thursday, Alphabet, Google’s parent company, reported strong revenue growth in its latest quarter from its search engine and video platform, YouTube, as its market-leading position in online advertising continued to reap rewards despite recent fluctuations in the industry.
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Jan 31, 2024 · Alphabet’s GOOGL fourth-quarter 2023 earnings of $1.64 per share beat the Zacks Consensus Estimate by 2.5%. The figure grew 56.2% year over year.
- Overview
- Key Metric: Cloud Stabilization
- Business Spotlight: AI Potential
Alphabet Inc. will report earnings for the fourth quarter on Tuesday, with analysts on average projecting revenue of $85.24 billion, net income of $20.28 billion, and earnings per share at $1.61, representing significant gains from the previous year.
Alphabet reported weaker-than-expected cloud revenue growth in the previous quarter, but CFRA analysts said that there could be upside to growth in the fourth quarter of 2023.
Google could provide further details on its artificial intelligence initiatives such as Gemini Ultra and Bard Advanced launch plans when it reports earnings.
Google parent company Alphabet Inc. (
) is set to announce fourth-quarter earnings on Tuesday, with investors looking for Google Cloud revenue growth and any details on the company's
Alphabet's revenue is expected to be $85.24 billion, according to consensus estimates collected by Visible Alpha, up from $76.05 billion in the fourth quarter of 2022. Analysts anticipate net income to be $20.28 billion, up from $13.62 billion in the fourth quarter of 2022, while adjusted
Analysts said there could be an upturn in Google Cloud revenue after a
, when cloud revenue fell short of expectations. CFRA analysts said that there could be a "potential upside to
growth" in the fourth quarter. Consensus estimates compiled by Visible Alpha project cloud revenue for the fourth quarter of 2023 at $8.95 billion, which would translate to roughly 22% growth year-over-year (YOY).
In the third quarter of 2023, cloud revenue also grew 22% YOY versus 28% growth in the second quarter, with Alphabet CEO Sundar Pichai crediting the smaller-than-expected gains to customers choosing to optimize their spending amid economic uncertainty.
, alongside other tech giants, is working to stake its claim in the AI race. Wedbush Securities analysts expect that enterprise monetization of
tech will be a key theme in 2024 and that the company could comment on AI potential in its earnings report.
Google bolstered its stance in the AI space in the final quarter of 2023, launching
its own AI model, Gemini
, in December 2023. The company claims Gemini largely outperforms Microsoft-backed (
The company could solidify launch plans for Gemini Ultra and Bard Advanced, more advanced versions of its AI model and GenAI chatbot, which Google previously has said would be announced in "early 2024."
Ruth Porat, President and Chief Investment Officer; CFO said: “We ended 2023 with very strong fourth quarter financial results, with Q4 consolidated revenues of $86 billion, up 13% year over year. We remain committed to our work to durably re-engineer our cost base as we invest to support our growth opportunities.”.
Ruth Porat, CFO of Alphabet and Google, said: “Our fourth quarter revenues of $75 billion, up 32% year over year, reflected broad-based strength in advertiser spend and strong consumer online activity, as well as substantial ongoing revenue growth from Google Cloud.
Jan 31, 2024 · The fourth-quarter revenue increased 13% year-over-year to $86.31 billion, beating the consensus estimate of $85.33 billion—the EPS of $1.64 beat analyst estimates of $1.59.
Jan 31, 2024 · The Q4 revenue was around $83.3 billion, which was slightly above what analysts had predicted, according to CNBC. The increase in revenue marks a 13% YoY (year-over-year) increase for the...
Apr 25, 2024 · On Thursday, Alphabet, Google’s parent company, reported strong revenue growth in its latest quarter from its search engine and video platform, YouTube, as its market-leading position in...
