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Alphabet-A | 8-K: Alphabet Announces Fourth Quarter and Fiscal Year 2023 Results

SEC announcement ·  Jan 31 05:03
Summary by Futu AI
On January 30, 2024, Alphabet Inc., the parent company of Google, released its financial results for the fourth quarter and fiscal year ended December 31, 2023. The announcement was made through a press release and was accompanied by a conference call. Alphabet reported a 13% year-over-year increase in Q4 revenues, reaching $86 billion, and a 9% increase for the fiscal year, with total revenues of $307.394 billion. Operating income for Q4 rose to $23.697 billion, reflecting an operating margin of 27%. Net income for the year was reported at $73.795 billion, with a diluted EPS of $5.80. The company highlighted the strength in Search, YouTube, and Cloud services, attributing growth to AI investments. Alphabet also announced workforce reductions resulting in severance and related charges of $2.1 billion for the year, and office space...Show More
On January 30, 2024, Alphabet Inc., the parent company of Google, released its financial results for the fourth quarter and fiscal year ended December 31, 2023. The announcement was made through a press release and was accompanied by a conference call. Alphabet reported a 13% year-over-year increase in Q4 revenues, reaching $86 billion, and a 9% increase for the fiscal year, with total revenues of $307.394 billion. Operating income for Q4 rose to $23.697 billion, reflecting an operating margin of 27%. Net income for the year was reported at $73.795 billion, with a diluted EPS of $5.80. The company highlighted the strength in Search, YouTube, and Cloud services, attributing growth to AI investments. Alphabet also announced workforce reductions resulting in severance and related charges of $2.1 billion for the year, and office space optimization charges totaling $1.8 billion. Additionally, the company adjusted the estimated useful life of its servers and network equipment, which reduced depreciation expense and increased net income. The financial report included non-GAAP measures, reconciliations, and forward-looking statements. Alphabet's shares, GOOGL and GOOG, are traded on the Nasdaq Stock Market LLC.

This announcement is a separate document:

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