Alphabet achieves first $100B annual profit ... and sees its shares sink

Google’s parent Alphabet has achieved $100 billion in annual net income for the first time.

News of all those zeroes came in the mega-corp's fourth-quarter and full-year 2024 financial results, which recorded $96.5 billion in Q4 2024 revenue and $350 billion for the full year, representing year-on-year gains of 12 percent and 14 percent respectively.

CEO Sundar Pichai characterized the results [PDF] as "a strong quarter driven by our leadership in AI and momentum across the business."

Google Services – ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube – booked $84.1 billion for the quarter, up ten percent year-over-year. Alphabet attributed the growth to enthusiasm for Google Search and YouTube ads.

Google Cloud – Google Cloud Platform and Google Workspace – reached almost $12 billion revenue in Q4, a 30 percent jump from Q3 2023’s $9.2 billion.

Overall net income ...