Alphabet(US:GOOGL)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 15.1% from $76.693 billion in Q3 2023[18] - Total constant currency revenues for Q3 2024 increased to $88.1 billion, up $3.5 billion from Q2 2024[29] - Total revenues excluding hedging effect rose to $88.251 billion in Q3 2024, a 15% increase from Q3 2023[28] - Constant currency revenues for Q3 2024 increased by 16% compared to Q3 2023[28] - Revenues excluding hedging effect in Q3 2023 were $76.694 billion, a 12% increase from Q3 2022[31] - Total revenues in Q3 2023 were $76.693 billion, an 11% increase from Q3 2022[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 12.5% from $67.986 billion in Q3 2023[21] - Google Search & other revenues increased to $49.385 billion in Q3 2024, up from $44.026 billion in Q3 2023[5] - Google subscriptions, platforms, and devices revenues increased to $10.656 billion in Q3 2024, up from $8.339 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 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 - Total operating income increased 34% and operating margin expanded by 4.5 percentage points to 32%[1] - Net income increased 34% and EPS increased 37% to $2.12[1] - Net income for Q3 2024 rose to $26.301 billion, a 33.6% increase from $19.689 billion in Q3 2023[18] - Income from operations for Q3 2024 increased to $28.521 billion, a 33.6% rise from $21.343 billion in Q3 2023[18] Cash Flow and Dividends - Net cash provided by operating activities for Q3 2024 was $30.698 billion, slightly up from $30.656 billion in Q3 2023[19] - Free cash flow for Q3 2024 stood at $17.637 billion, calculated as net cash from operating activities minus capital expenditures[25] - Dividend payments to stockholders totaled $2.5 billion for the three months ended September 30, 2024[8] Other Income and Expenses - Other income (expense), net for Q3 2024 was $3.185 billion, driven by a $1.821 billion gain on equity securities[23] - Total costs and expenses for Q3 2024 amounted to $59.747 billion, up 7.9% from $55.350 billion in Q3 2023[18] Regional Revenue - United States revenues grew to $43.139 billion in Q3 2024, a 19% increase from Q3 2023[28] - EMEA revenues reached $25.472 billion in Q3 2024, a 12% increase from Q3 2023[28] - APAC revenues increased to $14.547 billion in Q3 2024, an 11% rise from Q3 2023[28] - Other Americas revenues grew to $5.093 billion in Q3 2024, a 12% increase from Q3 2023[28] YouTube Performance - YouTube's total ads and subscription revenues surpassed $50 billion over the past four quarters for the first time[1]