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Alphabet reports Q4 2023 revenue of $86 billion

3 weeks ago 44

Alphabet today announced Q4 2023 earnings with $86.3 billion in revenue. These numbers range from October to December and summarize the fiscal year.

Revenue is up 13% from $76 billion in Q4 2022, with operating income at $23.7 billion and net income of $20.7 billion for this quarter (versus $13.62 billion a year ago). For comparison, Alphabet reported $77 billion in revenue and $19.69 billion in net income last quarter.

“We are pleased with the ongoing strength in Search and the growing contribution from YouTube and Cloud. Each of these is already benefiting from our AI investments and innovation. As we enter the Gemini era, the best is yet to come.”

Sundar Pichai, CEO

We ended 2023 with very strong fourth quarter financial results, with Q4 consolidated revenues of $86 billion, up 13% year over year. We remain committed to our work to durably re-engineer our cost base as we invest to support our growth opportunities.

Ruth Porat, President and Chief Investment Officer; CFO

In Q4 2023, YouTube ad revenue was $9.2 billion (versus $7.96 billion a year ago), while Cloud reported $9.19 billion (compared to $7.32 billion).

“Google subscriptions, platforms, and devices” (previously “Google other”) — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $10.79 billion, compared to $8.79 billion the same quarter last year.

“Other Bets” continues to lose money. However, it reported $657 million revenue from $226 million in Q4 of 2022. However, it lost $863 million compared to $1.24 billion (recast) in the same quarter of last year.

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