The earnings call reflected strong revenue growth driven by advances in AI and cloud services, alongside significant achievements in YouTube and Waymo. However, challenges were noted in network revenue declines, legal uncertainties, and increased capital expenditures.

Company Guidance

During Alphabet's Q3 2024 earnings call, the executives provided extensive guidance on the company's strategic focus and financial performance. Sundar Pichai highlighted the company's strong momentum driven by innovation and AI investments, noting that Google Cloud revenue grew by 35% to $11.4 billion with a 17% operating margin. The company also saw Google Services revenues increase by 13% to $76.5 billion, led by a 12% growth in search and other revenues. YouTube ads revenues also grew by 12%, contributing to the overall 15% increase in consolidated revenue. The executives emphasized their commitment to enhancing AI capabilities, with Pichai mentioning that AI overviews are reaching over 1 billion users monthly, and Gemini models are now integrated into all major products. Alphabet reported an operating income increase of 34% to $28.5 billion, with an operating margin of 32%. Free cash flow for the quarter was $17.6 billion, and the company returned $15.3 billion in share repurchases and $2.5 billion in dividend payments to shareholders. Looking forward, Alphabet plans to continue investing in AI and technical infrastructure while maintaining cost discipline to support growth opportunities.

Record Revenue Growth

Consolidated revenue increased by 15% year-over-year, with Google Cloud revenue growing by 35%.

AI and Google Cloud Innovations

Gemini models have seen API calls grow nearly 14x in a 6-month period, and Google Cloud's operating income increased to $1.9 billion with a 17% operating margin.

YouTube Milestone

YouTube's combined ad and subscription revenue over the past four quarters surpassed $50 billion, with ad revenues growing 12% year-over-year.

Advancements in AI Infrastructure

Investment in AI infrastructure, including data centers and custom GPUs, has significantly reduced machine cost per query by more than 90% in 18 months.

Waymo Expansion

Waymo is now the technical leader in the autonomous vehicle industry, with 1 million fully autonomous miles driven weekly and an expanded partnership with Uber.

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Alphabet Class A (GB:0RIH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0RIH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 04, 2025	2024 (Q4)	2.12 / -	1.64	―	―	―
Oct 29, 2024	2024 (Q3)	1.84 / 2.12	1.55	36.77% (+0.57)	―
Jul 23, 2024	2024 (Q2)	1.85 / 1.89	1.44	31.25% (+0.45)	―
Apr 25, 2024	2024 (Q1)	1.51 / 1.89	1.17	61.54% (+0.72)	―
Jan 30, 2024	2023 (Q4)	1.59 / 1.64	1.05	56.19% (+0.59)	―
Oct 24, 2023	2023 (Q3)	1.46 / 1.55	1.06	46.23% (+0.49)	―
Jul 25, 2023	2023 (Q2)	1.34 / 1.44	1.21	19.01% (+0.23)	―
Apr 25, 2023	2023 (Q1)	1.07 / 1.17	1.231	-4.96% (-0.06)	―
Feb 02, 2023	2022 (Q4)	1.18 / 1.05	1.534	-31.55% (-0.48)	―
Oct 25, 2022	2022 (Q3)	1.26 / 1.06	1.4	-24.29% (-0.34)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0RIH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$168.34	$178.93	+6.29%
Jul 23, 2024	$182.60	$173.47	-5.00%
Apr 25, 2024	$155.04	$168.14	+8.45%
Jan 30, 2024	$151.95	$141.49	-6.89%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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