Q1 24 EPS
$1.89
BEAT +25.17%
Est. $1.51
Q1 24 Revenue
$80.54B
BEAT +2.48%
Est. $78.59B
vs S&P Since Q1 24
+81.6%
BEATING MARKET
GOOGL +123.4% vs S&P +41.8%
Market Reaction
Did GOOGL Beat Earnings? Q1 2024 Results
Alphabet kicked off 2024 with a standout first quarter, posting diluted EPS of $1.89 against a consensus estimate of $1.51, a beat of 25.17%, while revenue climbed 15.4% year-over-year to $80.54 billion, edging past the $78.59 billion Wall Street exp… Read more Alphabet kicked off 2024 with a standout first quarter, posting diluted EPS of $1.89 against a consensus estimate of $1.51, a beat of 25.17%, while revenue climbed 15.4% year-over-year to $80.54 billion, edging past the $78.59 billion Wall Street expected by 2.48%. The primary engine behind the quarter's strength was a broad acceleration across Search, YouTube, and Google Cloud, with Cloud alone generating $9.57 billion in revenue and swinging its segment operating income to $900.00 million from just $191.00 million a year earlier, underscoring rapidly improving unit economics at scale. Operating margin expanded sharply to 32% from 25% a year ago, reflecting both top-line momentum and disciplined cost management as severance-related charges fell to $716.00 million from $2.56 billion in the prior-year period. The results arrived amid growing utility-sector commentary about surging data center electricity demand from companies including Google, a backdrop that reinforces the scale of Alphabet's infrastructure footprint. The company also announced a $70.00 billion share repurchase authorization and initiated a quarterly cash dividend of $0.20 per share.
Key Takeaways
- • Strong performance from Search, YouTube, and Cloud
- • 15% year-over-year revenue growth (16% in constant currency)
- • Operating margin expansion from 25% to 32%
- • Google Cloud operating income increased to $900 million from $191 million year-over-year
- • Ongoing cost base reengineering efforts
- • $2.2 billion gain on equity securities boosted other income
GOOGL YoY Financials
Q1 2024 vs Q1 2023, source: SEC Filings
GOOGL Revenue by Segment
With YoY comparisons, source: SEC Filings
GOOGL Revenue by Geography
With YoY comparisons, source: SEC Filings
“Our results in the first quarter reflect strong performance from Search, YouTube and Cloud. We are well under way with our Gemini era and there's great momentum across the company. Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation.”
— Sundar Pichai, Q1 2024 Earnings Press Release
GOOGL Earnings Trends
GOOGL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GOOGL EPS Trend
Earnings per share: estimate vs actual
GOOGL Revenue Trend
Quarterly revenue: estimate vs actual
GOOGL Quarterly Results
12 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $5.11 | — | $109.90B | +2.67% |
| Q4 25 BEAT FY | $2.63 | $2.82 | +7.22% | $113.83B | — |
| FY Full Year | $10.60 | $10.81 | +2.03% | $402.84B | +0.62% |
| Q3 25 BEAT | $2.27 | $2.87 | +26.70% | $102.35B | +2.20% |
| Q2 25 BEAT | $2.20 | $2.31 | +5.04% | $96.43B | +2.61% |
| Q1 25 BEAT | $2.01 | $2.81 | +39.75% | $90.23B | +1.21% |
| Q4 24 BEAT FY | $2.13 | $2.15 | +0.94% | $96.47B | — |
| FY Full Year | — | $8.04 | — | $350.02B | — |
| Q3 24 BEAT | $1.84 | $2.12 | +15.22% | $88.27B | +2.28% |
| Q2 24 BEAT | $1.84 | $1.89 | +2.72% | $84.74B | +0.65% |
| Q1 24 BEAT | $1.51 | $1.89 | +25.17% | $80.54B | +2.48% |
| Q4 23 BEAT FY | $1.59 | $1.64 | +3.14% | $86.31B | +1.15% |
| FY Full Year | — | $5.80 | — | $307.39B | — |
| Q1 23 BEAT | $1.06 | $1.17 | +10.38% | $69.79B | +1.31% |
| Q4 22 MISS FY | $1.18 | $1.05 | -11.02% | $76.05B | -0.63% |
| FY Full Year | — | $4.56 | — | $282.84B | — |