Alphabet(GOOGL) - 2024 Q4 - Annual Results

Revenue Growth - Q4 2024 consolidated revenues increased by 12% year over year to $96.5 billion, with a full-year revenue increase of 14% to $350.0 billion[4] - Google Cloud revenues surged by 30% to $12.0 billion, driven by growth in core GCP products, AI Infrastructure, and Generative AI Solutions[4] - Google Services revenues grew by 10% to $84.1 billion, reflecting strong performance in Google Search and YouTube ads[4] - Revenues for Q4 2023 were $86,310 million, an increase to $96,469 million projected for Q4 2024, representing a growth of approximately 13.5%[22] - Google Services generated revenues of $76,311 million in Q4 2023, projected to increase to $84,094 million in Q4 2024, reflecting a growth of approximately 10.5%[25] - Google Cloud revenues were $9,192 million in Q4 2023, with an expected increase to $11,955 million in Q4 2024, showing a growth of around 30.3%[25] - Total constant currency revenues for the quarter ended December 31, 2024, reached $96.7 billion, an increase of $10.6 billion compared to $86.2 billion for the same quarter in 2023, representing a 12% growth[33] - For the year ended December 31, 2024, total constant currency revenues were $352.7 billion, up $45.6 billion from $307.2 billion in 2023, reflecting a 15% increase[35] Profitability - Operating income for Q4 2024 rose by 31% to $30.97 billion, with an operating margin expansion of 5 percentage points to 32%[4] - Net income increased by 28% to $26.54 billion, and diluted EPS rose by 31% to $2.15[4] - Total operating income for Q4 2023 was $23,697 million, anticipated to grow to $30,972 million in Q4 2024, a rise of about 30.7%[22] - Basic net income per share for Q4 2023 was $1.66, projected to increase to $2.17 in Q4 2024, indicating a growth of about 30.7%[22] Expenses and Costs - Total Traffic Acquisition Costs (TAC) for Q4 2024 were $14.85 billion, up from $13.99 billion in Q4 2023[5] - The company reported a total of $62,613 million in costs and expenses for Q4 2023, expected to increase to $65,497 million in Q4 2024, a rise of approximately 3%[22] Cash Flow and Investments - Free cash flow for Q4 2024 is projected to be $24,837 million, calculated as net cash provided by operating activities of $39,113 million minus capital expenditures of $14,276 million[30] - Alphabet plans to invest approximately $75 billion in capital expenditures in 2025 to accelerate growth[2] Employee and Dividend Information - The number of employees increased from 182,502 in Q4 2023 to 183,323 in Q4 2024[5] - Dividend payments to stockholders totaled $2.4 billion for the three months ended December 31, 2024[8] Regional Revenue Performance - Revenues from the United States for the year ended December 31, 2024, were $170.4 billion, a 17% increase from $146.3 billion in 2023[35] - EMEA revenues for the year ended December 31, 2024, totaled $102.1 billion, marking a 12% increase from $91.0 billion in 2023[35] - APAC revenues for the year ended December 31, 2024, were $56.8 billion, a 10% increase from $51.5 billion in 2023[35] - Other Americas revenues for the year ended December 31, 2024, reached $20.4 billion, an 11% increase from $18.3 billion in 2023[35] - The company experienced a net cash increase of $3,507 million in Q4 2024, following a decrease of $6,654 million in Q4 2023[24] Other Financial Metrics - Other income for Q4 2024 is expected to rise to $1,271 million from $715 million in Q4 2023, reflecting an increase of approximately 77.5%[28] - Hedging gains for the year ended December 31, 2024, were reported at $211 million, down from $236 million in 2023[35] - The company’s revenues from the APAC region showed a constant currency revenue increase of 13% for the year ended December 31, 2024, compared to the previous year[35]