"Our commitment to AI infrastructure has significantly lowered our costs while offering our customers unparalleled tools and efficiencies."
— Sundar Pichai
03Detailed Report
GOOGL
Alphabet Inc
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
Alphabet Inc reported strong Q3 2024 results, driven by a notable 15% increase in revenue year-on-year to $88.27 billion. This growth underscores the company's robust market position, particularly in Google Cloud, which achieved a substantial 35% revenue increase. The earnings report emphasized the company's ongoing commitment to artificial intelligence (AI) as a core growth strategy, igniting positive market sentiment. Net income rose to $26.30 billion, reflecting a 34% increase year-on-year, which translates to $2.12 per diluted share. These results solidify Alphabet's resilience against prevailing market challenges and highlighted their investment focus on AI infrastructure and product innovation, positioning the company for sustained growth.
Key Performance Indicators
Revenue
Increasing
88.27B
QoQ: 4.29% | YoY: 15.09%
Gross Profit
Increasing
51.79B
58.68% margin
QoQ: 5.42% | YoY: 19.17%
Operating Income
Increasing
28.52B
QoQ: 4.00% | YoY: 33.63%
Net Income
Increasing
26.30B
QoQ: 11.36% | YoY: 33.58%
EPS
Increasing
2.14
QoQ: 12.04% | YoY: 36.31%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue Performance:
- Total revenue for Q3 2024: $88.27 billion (YoY increase of 15.09%, QoQ increase of 4.29%).
- Gross profit: $51.79 billion with a gross margin of 58.68%.
Profitability:
- Operating income: $28.52 billion (operating margin: 32.3%, YoY increase of 33.63%).
- Net income: $26.30 billion (net margin: 29.7%, YoY increase of 33.58%).
- EPS: $2.12, representing a 36.31% increase YoY.
Balance Sheet Health:
- Total assets: $430.27 billion, with total liabilities at $116.15 billion.
- Total equity of $314.12 billion, underscoring a debt-to-equity ratio of just 0.0857.
- Cash and equivalents stood at $19.96 billion, alongside short-term investments of $73.27 billion.
Cash Flow:
- Free cash flow was reported at $17.64 billion for Q3 2024, indicating a solid liquidity position and effective capital management.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
88.27B
15.09%
4.29%
Gross Profit
51.79B
19.17%
5.42%
Operating Income
28.52B
33.63%
4.00%
Net Income
26.30B
33.58%
11.36%
EPS
2.14
36.31%
12.04%
Key Financial Ratios
Gross Profit Margin
Good
58.70%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Excellent
32.30%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
29.80%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Fair
6.11%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
8.37%
Return on equity is acceptable but below top-tier companies
Current Ratio
Healthy
1.95
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
19.37x
P/E ratio in line with market averages
Price to Book
High Premium
6.49x
Very high premium suggests asset-light business model or lofty expectations
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