Alphabet reported robust financial results for Q3 2024, with revenue climbing 15% year-over-year to $88.3 billion, driven by Google Services revenue growth of 13% to $76.5 billion and Google Cloud revenue surge of 35% to $11.4 billion. Operating income jumped 34% to $28.5 billion, while operating margin expanded to 32% from 28% last year. Net income rose 34% to $26.3 billion, with diluted EPS of $2.12.Google Search & other revenue increased 12% to $49.4 billion, while YouTube ads grew 12% to $8.9 billion. Google Cloud achieved significant profitability improvement with operating income of $1.9 billion, up from $266 million in Q3 2023. The company maintained strong operational efficiency with operating expenses growing only 5% despite continued investments in AI infrastructure.The company returned $17.8 billion to shareholders through $15.3 billion in share repurchases and $2.5 billion in dividends. Capital expenditures were $13.1 billion, primarily reflecting investments in technical infrastructure including AI capabilities. The Board authorized a new $70 billion share repurchase program, with $59.7 billion remaining available as of quarter-end.

Alphabet reported robust financial results for Q3 2024, with revenue climbing 15% year-over-year to $88.3 billion, driven by Google Services revenue growth of 13% to $76.5 billion and Google Cloud revenue surge of 35% to $11.4 billion. Operating income jumped 34% to $28.5 billion, while operating margin expanded to 32% from 28% last year. Net income rose 34% to $26.3 billion, with diluted EPS of $2.12.Google Search & other revenue increased 12% to $49.4 billion, while YouTube ads grew 12% to $8.9 billion. Google Cloud achieved significant profitability improvement with operating income of $1.9 billion, up from $266 million in Q3 2023. The company maintained strong operational efficiency with operating expenses growing only 5% despite continued investments in AI infrastructure.The company returned $17.8 billion to shareholders through $15.3 billion in share repurchases and $2.5 billion in dividends. Capital expenditures were $13.1 billion, primarily reflecting investments in technical infrastructure including AI capabilities. The Board authorized a new $70 billion share repurchase program, with $59.7 billion remaining available as of quarter-end.