The Strategist

Alphabet's profit rises to $73.8B

01/31/2024 - 08:34

The US holding corporation Alphabet Inc., which controls Google, announced in a release that its net profit for 2023 climbed by 23% year over year to $73.795 billion.

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For the period, diluted earnings per Class A, B, and C share were $5.8, up from $4.56 in the prior year. The company's revenue grew by 8.6% to $307.394 billion in the previous year.

Alphabet's fourth-quarter net income rose by 1.5 times to $20.687 billion. Diluted earnings per Class A, B and C shares amounted to $1.64 compared to $1.05 in the same period of 2022, the figure was projected at $1.59. Alphabet's quarterly revenue rose 13.5% to $86.31 billion, with the company forecasting $85.23 billion.

Advertising revenue at Google for the fourth quarter rose 11% year over year to $65.517 billion. The figure was below analysts' expectations of 66.1 billion dollars.