Alphabet reports Q2 revenue with 14 pct growth

SAN FRANCISCO, July 23 (Xinhua) — Alphabet Inc., Google’s parent company, on Tuesday reported its second-quarter revenue at 84.74 billion U.S. dollars, up 14 percent from the same period last year.
Announcing its financial results for the quarter that ended June 30, 2024, the company said that its net income was 23.62 billion dollars, or 1.89 dollars in earnings per diluted share, compared with 18.37 billion dollars, or 1.44 dollars in earnings per diluted share, in the same period of 2023.
Among the entire quarterly revenue of 84.74 billion dollars, a total of 73.93 billion dollars came from Google Services total including YouTube advertising, according to the company’s financial report.
The quarterly report also showed that Google Cloud sales grew to 10.35 billion dollars from 8.03 billion dollars in the same period of 2023.
“Our strong performance this quarter highlights ongoing strength in Search and momentum in Cloud. We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead,” Alphabet CEO Sundar Pichai said.
“We delivered revenues of 85 billion U.S. dollars, up 14 percent year on year driven by Search as well as Cloud, which for the first time exceeded 10 billion dollars in quarterly revenues and 1 billion dollars in operating profit. As we invest to support our highest growth opportunities, we remain committed to creating investment capacity with our ongoing work to durably re-engineer our cost base,” Alphabet President and Chief Investment Officer Ruth Porat said. ■