Alphabet Announces Second Quarter 2024 Results
Alphabet Beats on Revenue and Earnings
Google parent company Alphabet reported second-quarter results after the bell Tuesday that were in-line.
Alphabet GOOGL came out with quarterly earnings of 189 per share beating the Zacks Consensus Estimate of 185 per share.
Alphabet Beats Revenue Estimates
Alphabet today announced Q2 2024 earnings with 8472 billion in revenue.
These numbers range from April to June.
Revenue is up 14% from 746.
Alphabet Beats Profit Estimates
Alphabet had a strong second quarter 2024, with revenue and earnings that topped analysts' expectations, driven by continued growth in its core advertising business.
- Alphabet reported revenue of $84.72 billion for the quarter, up 14% from $74.55 billion in the year-ago period.
- This revenue growth was driven by continued strength in the company's advertising business, which saw a 12% increase in revenue to $62.80 billion.
- Alphabet's non-advertising revenue, which includes revenue from its cloud computing, hardware, and other businesses, grew 34% to $21.92 billion.
Alphabet's strong revenue growth helped its earnings per share to increase by 17% to $1.89, up from $1.62 in Q2 2023.
Alphabet Announces New Chief Financial Officer
Along with its earnings release, Alphabet also announced that Ruth Porat will step down as the company's chief financial officer at the end of 2024.
Porat will be replaced by Prashanth Chandrasekar, who currently serves as Alphabet's vice president of finance.
Porat's departure is part of a broader management shakeup at Alphabet, which has seen several top executives depart the company in recent months.
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