Alphabet reports strong Q3 2024 revenue of $88.3 billion

Google parent company's revenue up 13% year-over-year

Alphabet, the parent company of Google, reported $88.3 billion in revenue for the third quarter of 2024, a 13% increase year-over-year. The company's revenue growth was driven by strong performance across its advertising, cloud computing, and other businesses.

Advertising revenue up 10%

Alphabet's advertising revenue, which accounts for the majority of its total revenue, grew 10% year-over-year to $66.5 billion. This growth was driven by strong demand for digital advertising across Google's search, YouTube, and other platforms.

Cloud revenue up 30%

Alphabet's cloud computing revenue, which includes Google Cloud Platform and other cloud-based services, grew 30% year-over-year to $12.5 billion. This growth was driven by strong demand for cloud-based infrastructure and services from businesses of all sizes.

Other revenue up 15%

Alphabet's other revenue, which includes hardware sales, subscription services, and other non-advertising and non-cloud sources, grew 15% year-over-year to $9.3 billion. This growth was driven by strong demand for Google's Pixel smartphones, Nest smart home devices, and other hardware products.

Outlook

Alphabet's strong third-quarter results suggest that the company is well-positioned to continue to grow its revenue and earnings in the future. The company's diverse portfolio of businesses and its strong market position in digital advertising, cloud computing, and other areas should continue to drive growth in the years to come.