August 2, 2024

Alphabet Earnings Q2 2024

tl;dr

  • Revenues: $85 billion, up 14% year-on-year.Driven by Search and Cloud services.Cloud services reached over $10 billion in quarterly revenues with an operating profit of $1 billion for the first time.
  • Driven by Search and Cloud services.
  • Cloud services reached over $10 billion in quarterly revenues with an operating profit of $1 billion for the first time.
  • Operating Income: $27.4 billion, up from $21.8 billion in Q2 '23.
  • Operating Margin: Increased to 32% from 29%.
  • Net Income: $23.6 billion, up from $18.4 billion in Q2 '23.
  • Diluted EPS: $1.89, up from $1.44 in Q2 '23

Segment Revenue and Operating Results:

  • Google Services:  
       Revenue: $73.9 billion (up from $66.3 billion in Q2 '23)
         Operating Income: $29.7 billion (up from $23.5 billion)
  • Revenue: $73.9 billion (up from $66.3 billion in Q2 '23)
  • Operating Income: $29.7 billion (up from $23.5 billion)
  • Google Cloud:
          Revenue: $10.3 billion (up from $8 billion in Q2 '23)
          Operating Income: $1.2 billion (up from $395 million)
  • Revenue: $10.3 billion (up from $8 billion in Q2 '23)
  • Operating Income: $1.2 billion (up from $395 million)
  • Other Bets:
      Revenue: $365 million (up from $285 million)
      Operating Loss: $1.1 billion (worsened from $813 million)
  • Revenue: $365 million (up from $285 million)
  • Operating Loss: $1.1 billion (worsened from $813 million)

Supplemental Information:

  • Total TAC (Traffic Acquisition Costs): $13.4 billion.
  • Number of Employees: Decreased to 179,582 from 181,798 in Q2 2023.
  • Dividend Program: Totaling $2.5 billion, with an announced cash dividend of $0.20 per share payable on September 16, 2024.

Consolidated Financial Position (as of June 30, 2024):

  • Total Assets: $414.8 billion.
  • Total Liabilities: $114 billion.
  • Total Stockholders' Equity: $300.8 billion.

Consolidated Cash Flows (Year to Date June 30, 2024):

  • Net Cash Provided by Operating Activities: $55.5 bllion.
  • Net Cash Used in Investing Activities: $11.3 billion.
  • Net Cash Used in Financing Activities: $40.6 billion.

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