Alphabet Reports Strong Q4 Results, Crediting AI Investments as a Key Driver

Benzinga 2024-01-31

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Alphabet reported strong fiscal fourth-quarter results, with revenues of $86.31 billion, up 13% year-over-year. Operating income grew to $23.7 billion, and net income soared to $20.68 billion, driven by investments in AI across Search, YouTube, and Cloud. Revenues were boosted by growth in key areas like Search, YouTube, and Cloud, demonstrating a strategic focus on AI. The tech titan recorded charges related to workforce reductions and office space optimization that impacted profits. Analysts will watch how further AI/tech investments shape GOOGL's financial trajectory in the "Gemini era."

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