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Benzinga
  • 2 years ago
Alphabet reported strong fiscal fourth-quarter results, with revenues of $86.31 billion, up 13% year-over-year. Operating income grew to $23.7 billion, and net income soared to $20.68 billion, driven by investments in AI across Search, YouTube, and Cloud. Revenues were boosted by growth in key areas like Search, YouTube, and Cloud, demonstrating a strategic focus on AI. The tech titan recorded charges related to workforce reductions and office space optimization that impacted profits. Analysts will watch how further AI/tech investments shape GOOGL's financial trajectory in the "Gemini era."
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Alphabet reported strong fiscal fourth quarter results with revenues of $86.3 billion,
00:07 up 13% year-over-year. Operating income grew to $23.7 billion and net income soared to $20.7
00:13 billion driven by investments in AI across Search, YouTube, and Cloud. Revenues were boosted by
00:18 growth in key areas like Search, YouTube, and Cloud, demonstrating a strategic focus on AI.
00:22 The tech titan recorded charges related to workforce reductions and office-based
00:26 optimization that impacted profits. Analysts will watch how further AI and tech investments
00:31 shape Google's financial trajectory in the Gemini era. For all things money, visit Benzinga.com.
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