Q3 24 EPS
$2.12
BEAT +15.22%
Est. $1.84
Q3 24 Revenue
$88.27B
BEAT +2.28%
Est. $86.30B
vs S&P Since Q3 24
+91.9%
BEATING MARKET
GOOGL +116.1% vs S&P +24.2%
Market Reaction
Did GOOGL Beat Earnings? Q3 2024 Results
Alphabet capped a strong third quarter with results that handily cleared Wall Street's bar, posting earnings per share of $2.12 against a consensus estimate of $1.84, a beat of 15.22%, while revenue of $88.27 billion topped expectations by 2.28% and … Read more Alphabet capped a strong third quarter with results that handily cleared Wall Street's bar, posting earnings per share of $2.12 against a consensus estimate of $1.84, a beat of 15.22%, while revenue of $88.27 billion topped expectations by 2.28% and grew 15.1% year over year. The standout driver was Google Cloud, which delivered $11.35 billion in revenue, up 35% from a year ago, as enterprise demand for AI infrastructure and generative AI solutions accelerated sharply; Cloud operating income expanded to $1.95 billion from just $266 million in the prior-year period, underscoring how quickly the segment is converting growth into profit. Google Services held its own as well, with Search climbing to $49.38 billion and YouTube ads reaching $8.92 billion. Overall operating income rose 34% to $28.52 billion, pushing operating margin to 32.3%, while net income jumped 34% to $26.30 billion. Analysts tracking the company have pointed to AI as a structural tailwind across search, cloud, and video, lending credibility to the breadth of this quarter's outperformance.
Key Takeaways
- • Google Search & other revenue growth to $49.4 billion
- • Google Cloud revenue accelerated 35% YoY driven by AI Infrastructure and Generative AI Solutions
- • YouTube ads revenue grew to $8.9 billion
- • Google subscriptions, platforms, and devices revenue increased to $10.7 billion
- • Operating margin expanded 4.5 percentage points to 32% through efficiency improvements
- • Other income (expense) swung to $3.2 billion gain driven by equity securities gains
GOOGL YoY Financials
Q3 2024 vs Q3 2023, source: SEC Filings
GOOGL Revenue by Segment
With YoY comparisons, source: SEC Filings
GOOGL Revenue by Geography
With YoY comparisons, source: SEC Filings
“The momentum across the company is extraordinary. Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tools.”
— Sundar Pichai, Q3 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 | — |