Alphabet Inc, commonly known as «Google,» has released its financial results for the year 2023 today, reporting revenues of $307.394 billion. It continues to stand as the undisputed leader in the global digital advertising business and demonstrates strength in other sectors such as cloud services.
Sundar Pichai, CEO, said: “We are pleased with the ongoing strength in Search and the growing contribution from YouTube and Cloud. Each of these is already benefiting from our AI investments and innovation. As we enter the Gemini era, the best is yet to come.”
Ruth Porat, President and Chief Investment Officer; CFO said: “We ended 2023 with very strong fourth quarter financial results, with Q4 consolidated revenues of $86 billion, up 13% year over year. We remain committed to our work to durably re-engineer our cost base as we invest to support our growth opportunities.”
Financial Results Alphabet Q4 2023 and Full Year 2023
The table summarizes the consolidated financial results of the last quarter of 2023 as well as the entire year and compares them with equivalent periods in 2022.
Financial results Alphabet Q4 2023 by business unit, traffic acquisition costs, and number of employees
The table summarizes the consolidated financial results by business unit for the last quarter of 2023 and compares them with the same period in 2022.
- With $65.517 billion in revenue in the last quarter, Google is clearly unbeatable in the advertising business.
- Of the total advertising revenue, the search advertising accounts for 73%, remaining the company’s most robust business.
- YouTube unstoppable as the largest digital television platform with billing figures that continue to grow year after year.
- Google Cloud increases by 25% compared to the last quarter of 2022 and surpasses Amazon AWS by 30% in the same period.
Alphabet Inc stock price after releasing results.
How has the market reacted to the results? Initially, investors were likely expecting more, as there has been a decline in the stock price during the day.
Alphabet real time stock price
Alphabet stock price YTD
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