Alphabet(US:GOOG)2024-10-29 20:01Revenue Growth - Consolidated Alphabet revenues in Q3 2024 increased 15% year over year to $88.3 billion, with a 16% increase in constant currency[1] - Revenues for Q3 2024 increased to $88.268 billion, up from $76.693 billion in Q3 2023, representing a 15.1% growth[18] - Total constant currency revenues for Q3 2024 increased to $88.1 billion, up $3.5 billion from $84.6 billion in Q2 2024[29] - Total revenues for Q3 2024 increased 15% year-over-year to $88.3 billion, with a 16% growth in constant currency terms[28] - Total revenues excluding hedging effect grew 16% year-over-year to $89.3 billion in Q3 2024, after adjusting for a 1% FX effect[28] - Revenues excluding hedging effect grew 12% year-over-year to $76.7 billion in Q3 2023, with an 11% growth in constant currency terms[31] - Total revenues for Q3 2023 increased 11% year-over-year to $76.7 billion, with an 11% growth in constant currency terms[31] Google Services Revenue - Google Services revenues increased 13% to $76.5 billion, driven by Google Search & other, Google subscriptions, platforms, and devices, and YouTube ads[1] - Google Services revenue grew to $76.510 billion in Q3 2024, up from $67.986 billion in Q3 2023, a 12.5% increase[21] - Google Search & other revenues increased to $49.385 billion in Q3 2024, up from $44.026 billion in Q3 2023[5] Google Cloud Revenue - Google Cloud revenues increased 35% to $11.4 billion, led by growth in Google Cloud Platform (GCP) across AI Infrastructure, Generative AI Solutions, and core GCP products[1] - Google Cloud revenue surged to $11.353 billion in Q3 2024, a 35.0% increase from $8.411 billion in Q3 2023[21] - Google Cloud operating income increased significantly to $1.947 billion in Q3 2024, up from $266 million in Q3 2023[7] - Operating income from Google Cloud reached $1.947 billion in Q3 2024, a significant rise from $266 million in Q3 2023[21] Profitability and Income - Total operating income increased 34% and operating margin expanded by 4.5 percentage points to 32%[1][3] - Net income increased 34% and EPS increased 37% to $2.12[1][3] - Net income for Q3 2024 rose to $26.301 billion, compared to $19.689 billion in Q3 2023, a 33.6% increase[18] - Other income (expense), net, for Q3 2024 was $3.185 billion, driven by a $1.821 billion gain on equity securities[23] YouTube Performance - YouTube's total ads and subscription revenues surpassed $50 billion over the past four quarters for the first time[1] Regional Revenue Growth - United States revenues grew 19% year-over-year to $43.1 billion in Q3 2024, with no FX effect[28] - EMEA revenues increased 13% year-over-year to $25.6 billion in Q3 2024, after adjusting for a 1% FX effect[28] - APAC revenues rose 13% year-over-year to $14.8 billion in Q3 2024, after adjusting for a 2% FX effect[28] - Other Americas revenues surged 25% year-over-year to $5.7 billion in Q3 2024, after adjusting for a 13% FX effect[28] Cash and Financial Position - Alphabet's total cash, cash equivalents, and marketable securities stood at $110.916 billion as of September 30, 2024[12] - Dividend payments to stockholders totaled $2.5 billion for the three months ended September 30, 2024[8] - Free cash flow for Q3 2024 was $17.637 billion, calculated as $30.698 billion from operating activities minus $13.061 billion in capital expenditures[25] - Net cash provided by operating activities for Q3 2024 was $30.698 billion, slightly higher than $30.656 billion in Q3 2023[19] Expenses - Total costs and expenses for Q3 2024 were $59.747 billion, up from $55.350 billion in Q3 2023, a 7.9% increase[18] - Research and development expenses increased to $12.447 billion in Q3 2024, up from $11.258 billion in Q3 2023, a 10.6% rise[18]