"We're uniquely well-positioned for the AI opportunity ahead. Our Research and Infrastructure leadership means we can pursue an in-house strategy that enables our product teams to move quickly."
— Sundar Pichai
03Detailed Report
GOOGL
Alphabet Inc
Period
Q2 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
In the second quarter of 2024, Alphabet Inc (GOOGL) reported impressive financial results, reflecting resilience and robust growth across its core business segments. Revenue reached $84.7 billion, up 14% year-over-year, with substantial contributions from both the Search and Google Cloud divisions, which saw a year-over-year growth of 12% and 29%, respectively. Management attributed this performance to increased engagement with AI technologies, enhancing user experience and operational efficiency.
Net income stood at $23.6 billion, translating to an EPS of $1.89, representing a notable 28.59% increase from the previous year. Despite ongoing investments in research and development to fuel AI advancements, operating margins improved to 32%, underscoring Alphabet's commitment to moderating expense growth relative to its revenue trajectory. Looking ahead, the company's strategic focus on AI development positions it favorably to capitalize on future market opportunities.
Cash Flow
- Free Cash Flow: $13.5 billion for Q2 2024.
- Cash and Marketable Securities: $101 billion.
Management stated: "Our leadership team remains focused on our efforts to moderate the pace of expense growth in order to create capacity for the increases in depreciation and expenses associated with the higher levels of investment in our technical infrastructure."
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
84.64B
13.45%
5.19%
Gross Profit
49.13B
15.10%
4.40%
Operating Income
27.43B
25.58%
7.67%
Net Income
23.62B
28.59%
-0.18%
EPS
1.91
31.72%
0.00%
Key Financial Ratios
Gross Profit Margin
Good
58.00%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Excellent
32.40%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
27.90%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Fair
5.69%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
7.85%
Return on equity is acceptable but below top-tier companies
Current Ratio
Healthy
2.08
Current ratio shows adequate liquidity to meet short-term obligations
Debt to Equity
Conservative
0.09
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Fair Value
23.91x
P/E ratio in line with market averages
Price to Book
High Premium
7.51x
Very high premium suggests asset-light business model or lofty expectations
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