UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the tran ...

Revenue Growth - Q2 2024 revenues reached $85 billion, a 14% year-over-year increase driven by Search and Cloud, with Cloud exceeding $10 billion in quarterly revenues for the first time[1] - Revenue for Q2 2024 increased to $84.742 billion, up from $74.604 billion in Q2 2023, representing a 13.6% growth[17] - Total revenues for Q2 2024 were $84.742 billion, a 14% increase from $74.604 billion in Q2 2023[31] - Constant currency revenues for Q2 2024 were $85.907 billion, a 15% increase compared to Q2 2023 when excluding the FX effect[31] - Total constant currency revenues for Q2 2024 were $85.2 billion, a $4.7 billion increase compared to Q1 2024[32] - Revenues excluding hedging effect grew to $74.601 billion in Q2 2023, an 8% increase from $69.310 billion in Q2 2022[35] Google Cloud Performance - Google Cloud achieved $1 billion in operating profit for the first time in Q2 2024[1] - Google Cloud revenues rose to $10.347 billion in Q2 2024, a significant increase from $8.031 billion in Q2 2023[5] - Google Cloud revenue increased to $10.347 billion in Q2 2024, up from $8.031 billion in Q2 2023, a 28.8% growth[22] - Google Cloud operating income improved to $1.172 billion in Q2 2024, up from $395 million in Q2 2023, a 196.7% surge[22] Google Services Performance - Google Search & other revenues grew to $48.509 billion in Q2 2024, up from $42.628 billion in Q2 2023[5] - YouTube ads revenues increased to $8.663 billion in Q2 2024 from $7.665 billion in Q2 2023[5] - Google Services revenue grew to $73.928 billion in Q2 2024, up from $66.285 billion in Q2 2023, a 11.5% increase[22] - Operating income for Google Services rose to $29.674 billion in Q2 2024, compared to $23.454 billion in Q2 2023, a 26.5% increase[22] Financial Performance - Operating income for Q2 2024 was $27.425 billion, with an operating margin of 32%, up from 29% in Q2 2023[3] - Net income for Q2 2024 was $23.619 billion, compared to $18.368 billion in Q2 2023[3] - Net income for Q2 2024 rose to $23.619 billion, compared to $18.368 billion in Q2 2023, a 28.6% increase[17] - Basic earnings per share for Q2 2024 rose to $1.91, up from $1.45 in Q2 2023, a 31.7% increase[17] - Net cash provided by operating activities for Q2 2024 was $26.640 billion, slightly down from $28.666 billion in Q2 2023[19] - Free cash flow for Q2 2024 was $13.454 billion, calculated as $26.64 billion from operating activities minus $13.186 billion in capital expenditures[27] Expenses and Costs - Total costs and expenses for Q2 2024 increased to $57.317 billion, up from $52.766 billion in Q2 2023, a 8.6% rise[17] - Research and development expenses for Q2 2024 grew to $11.860 billion, compared to $10.588 billion in Q2 2023, a 12.0% increase[17] Regional Revenue Growth - EMEA region revenues grew to $24.683 billion in Q2 2024, a 12% increase in constant currency terms from $22.289 billion in Q2 2023[31] - APAC region revenues increased to $13.823 billion in Q2 2024, a 13% rise in constant currency terms from $12.728 billion in Q2 2023[31] - Other Americas region revenues grew to $4.938 billion in Q2 2024, a 16% increase in constant currency terms from $4.511 billion in Q2 2023[31] Employee and Dividend Information - Alphabet's total number of employees decreased to 179,582 in Q2 2024 from 181,798 in Q2 2023[5] - Alphabet announced a cash dividend of $0.20 per share, totaling $2.5 billion for Q2 2024[8] AI Development - Alphabet consolidated AI model development teams under Google DeepMind to accelerate AI progress, effective Q2 2024[6] Other Financial Metrics - Interest income increased to $1.09 billion in Q2 2024 from $892 million in Q2 2023, reflecting a 22.2% growth[25] - Net loss on equity securities was $714 million in Q2 2024, significantly higher than the $205 million loss in Q2 2023[25]

The recent pullback in the tech sector hasn’t left Alphabet (NASDAQ: GOOGL) stock unaffected, as it retraced by 0.87% in the previous month, and 4.03% in the previous five trading sessions.On the daily chart, the losses of 0.02% are effectively mitigated by the pre-market gains of 1.39%, setting the GOOGL stock price at $180.13, at the time of publication.GOOGL stock 24-hour price chart. Source: Google Finance And with second-quarter earnings scheduled for release on July 23 after the markets close, GOOGL s ...

Many in the market are looking to the two members of ‘the Magnificent 7’ who report quarterly results this week to help reverse the stock market’s recent weakness.The immediate catalyst for the stock market pullback appears to be renewed uncertainty about regulatory and trade policies following the November elections, particularly with respect to export restrictions on semiconductor players. That said, we are in a seasonally soft time of the year and should perhaps resist the temptation to read too much int ...

Alphabet’s (GOOGL) second-quarter 2024 results, scheduled to be released on Jul 23, are likely to reflect gains from its strengthening cloud service offerings.The company’s cloud services arm — Google Cloud — has become the key catalyst behind its business growth.Alphabet’s cloud offerings include Google Cloud Platform and Google Workspace, which have been continuously gaining momentum in the booming cloud computing market. Google’s growing investments in infrastructure, security, data management, analytics ...

Hands, tablet and doctor with body hologram, overlay and dna research for medical innovation on app. Medic man, nurse and mobile touchscreen for typing on anatomy study or 3d holographic ux in clinicDr. Scott Gottlieb is a physician and served as the 23rd Commissioner of the U.S. Food and Drug Administration. He is a CNBC contributor and is a member of the boards of Pfizer and several other startups in health and tech. He is also a partner at the venture capital firm New Enterprise Associates. Shani Benezra ...

The stock market is a place where investors can buy and sell shares of public companies. It reflects economic conditions and company performance, offering opportunities for wealth growth. However, the market can be volatile, with prices fluctuating based on various factors.Artificial intelligence is a rapidly evolving sector in the tech industry. AI companies develop technologies that mimic human intelligence, such as machine learning and natural language processing. This field has seen significant growth a ...

“When the facts change, I change my mind. What do you do, sir?” ~ Influential economist John Maynard Keynes“You adapt, evolve, compete, or die.”~ Billionaire investor Paul Tudor Jones Flexibility is a Super Power Early in my career, I worked for the late great William O’Neil, a famous and successful growth investor. Though I did not work directly with O’Neil, I learned through stories and teachings that he credited much of his success with his ability to be flexible and change course like a “tree blowing in ...

Alphabet Inc (NASDAQ: GOOGL) has already gained some 40% since its year-to-date low in early March but analysts at Jefferies remain convinced it can push further to the upside in the coming months. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Shares of the tech titan currently pay a dividend yield of 0.43%.  Why is Jefferies bullish on Google stock?Copy link to sectionThe investment firm reiterated its “buy” rating on Google stock this morning and ...

The ongoing bullish sentiment around the stock market has been primarily attributed to companies venturing into the artificial intelligence (AI) sector. Notably, these companies significantly control major indices, leading to concerns that the AI bubble might burst, reminiscent of the 2000 Dot-com bubble. Uncertainty regarding a potential recession hitting the US economy further exemplifies the possibility of a bubble burst.Indeed, if the AI sector faces a downturn, certain companies could stand out and wea ...