Alphabet Inc., Google’s parent company, reported strong fourth-quarter results for fiscal 2024, primarily driven by its commitment to AI.
Alphabet announced revenues of $96.5 billion for Q4 2024, up 12% from last year.
Google Services, including Search and YouTube ads, grew by 10% to $84.1 billion.
Google Cloud increased revenues by 30% to $12.0 billion as more businesses adopted its AI services.
Operating income rose by 31%, and net income increased by 28% to $26.5 billion.
AI-Driven Growth
CEO Sundar Pichai highlighted the company’s AI achievements and recent launches during the earnings call.
Pichai said:
“Q4 was a strong quarter driven by our leadership in AI and momentum across the business. We’re making dramatic progress across compute, model capabilities, and in driving efficiencies. We’re rapidly shipping product improvements, and seeing terrific momentum with consumer and developer usage.”
Infrastructure Investments
Alphabet is investing heavily in its infrastructure, launching new data centers and subsea cable projects to improve global connectivity.
Pichai stated:
“We broke ground on 11 new Cloud regions and data center campuses in places like South Carolina, Indiana, Missouri, and around the world. We also announced plans for seven new subsea cable projects, strengthening global connectivity.”
These efforts will support the growth of AI services, as data centers now provide nearly four times more computing power for the same energy.