Alphabet reports revenue of $84.7 billion in the second quarter of 2024

Alphabet has announced earnings for the second quarter of 2024 with revenue of $84.72 billion. These figures cover the period from April to June.

Here's What We Know

Revenue increased by 14% compared to $74.6 billion in the second quarter of 2023. Operating profit was $27.43 billion and net profit was $23.62 billion for the quarter (compared to $18.37 billion a year ago). For comparison, Alphabet reported $80.5 billion in revenue and $23.66 billion in net profit last quarter.

In the second quarter of 2024, YouTube's advertising revenue was $8.66 billion (up from $7.67 billion a year earlier), while Cloud reported $10.35 billion (up from $8.03 billion). Google Subscriptions, Platforms and Devices, which includes hardware, Play Store and YouTube's non-advertising revenues, reported $9.31 billion, up from $8.14 billion in the same quarter last year.

The Other Bets segment continues to suffer losses. However, the company reported revenue of $365 million, compared to $285 million in the second quarter of 2023. However, losses totalled $1.12 billion, compared to $813 million in the same quarter last year.

This quarter demonstrates Alphabet's steady growth as the company continues to strengthen its market position and invest in promising technologies.

Source: Alphabet