Alphabet reports Q2 2024 revenue of $84.7 billion

Alphabet today announced Q2 2024 earnings with $84.72 billion in revenue. These numbers range from April to June.

Revenue is up 14% from $74.6 billion in Q2 2023, with operating income at $27.43 billion and net income of $23.62 billion for this quarter (versus $18.37 billion a year ago). For comparison, Alphabet reported $80.5 billion in revenue and $23.66 billion in net income last quarter.

Our strong performance this quarter highlights ongoing strength in Search and momentum in Cloud. We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead.

Sundar Pichai, CEO

We delivered revenues of $85 billion, up 14% year-on-year driven by Search as well as Cloud, which for the first time exceeded $10 billion in quarterly revenues and $1 billion in operating profit. As we invest to support our highest growth opportunities, we remain committed to creating investment capacity with our ongoing work to durably re-engineer our cost base.

Ruth Porat, President and Chief Investment Officer; CFO

In Q2 2024, YouTube ad revenue was $8.66 billion (versus $7.67 billion a year ago), while Cloud reported $10.35 billion (compared to $8.03 billion).

“Google subscriptions, platforms, and devices” (previously “Google other”) — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $9.31 billion, compared to $8.14 billion the same quarter last year.

“Other Bets” continues to lose money. However, it reported $365 million revenue from $285 million in Q2 of 2023. However, it lost $1.12 billion compared to $813 million in the same quarter of last year.