On February 4, 2025, Alphabet Inc. announced robust financial results for Q4 2024, with consolidated revenue reaching $96.4 billion, a 14% year-on-year increase (13% in constant currency). Net income surged 19% to $28.2 billion, and diluted earnings per share (EPS) rose 22% to $2.31.
Google Services, the largest segment, reported revenues of $82.5 billion, up 12%, with Search & other revenues increasing 12% to $54.2 billion. YouTube ads grew 13% to $9.8 billion, notably with Shorts earning as much or more per watch hour as traditional in-stream ads in some markets. Google Cloud delivered exceptional results, with revenues up 32% to $13.6 billion and operating income soaring 141% to $2.8 billion, expanding its operating margin to 20.7%.
Alphabet raised its 2025 capital expenditure guidance to approximately $85 billion, up from a previous estimate of $75 billion, with further increases expected in 2026, primarily for AI and cloud infrastructure. The company also increased its quarterly cash dividend by 5% to $0.21 per share and repurchased $13.3 billion in stock. However, management anticipates tougher advertising comparisons in H2 2025 and a 'tight demand supply environment' for Cloud into 2026, alongside ongoing regulatory scrutiny and a $1.4 billion legal settlement charge in Q2 2025.
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