Alphabet (GOOG, Financial), Google's parent company, released its Q4 and full-year financial results for the fiscal year ending December 31, 2024. The company reported a 12% year-over-year increase in Q4 revenue to $96.47 billion, with net profit climbing 28% to $26.54 billion. Earnings per share (EPS) rose to $2.15 from $1.64 in the same period last year.
Google's search and other services generated $54.03 billion in revenue, while YouTube ads brought in $10.47 billion, both showing year-over-year growth. However, revenue from Google's network business fell to $7.95 billion. Google's cloud business saw a substantial increase, reaching $11.96 billion, although it missed analyst expectations.
Regionally, revenue from the U.S. grew by 13% to $47.38 billion, while EMEA revenue increased by 13% to $28.18 billion. Revenue from the Asia-Pacific region rose by 8% to $15.16 billion.
Despite the overall positive results, Alphabet's Q4 revenue fell short of analyst expectations, leading to a significant after-hours stock price drop of over 7%. The stock had closed up 2.50% during regular trading hours but fell to $192.84 in after-hours trading.
Alphabet's full-year revenue for 2024 was $350.02 billion, a 14% increase from the previous year, with net profit reaching $100.12 billion. The company's EPS for the year was $8.04, slightly below analyst expectations.
