Google's parent company Alphabet earlier announced its second-quarter financial results for fiscal year 2024. Overall revenue reached US$847.42 billion, an increase of 14% over the same period last year, and net profit reached US$236.19 billion, an increase of 29% over the same period last year, setting a record for Alphabet's four consecutive quarters of double-digit growth. This included significant growth in both artificial intelligence technology and cloud technology businesses. The latter's sales profit exceeded US$100 billion for the first time, and its profit exceeded US$10 billion.
Alphabet and Google CEO Sundar Pichai also stated that Google's artificial intelligence technology has been used by more than 200 million developers and has generated more than billions of dollars in profits. He also emphasized that the company will continue to expand the development of artificial intelligence technology.
However, Alphabet's main source of revenue is still advertising, with revenue reaching US$646.16 billion, an increase of 11% over the same period last year, but a slight slowdown in growth compared to the previous quarter. At the same time, YouTube's advertising revenue accounts for about 13% of the total, and its growth has also slowed compared to the previous quarter, but it still has a growth rate of 13%.
As for the cloud business revenue, it reached US$103.47 billion, exceeding the US$100 billion revenue scale for the first time, with a growth rate of 29%. The revenue reached US$11.72 billion, a three-fold increase compared with the same period last year, which means that Google Cloud's business has increased significantly.
Revenue from other segments, including subscription services such as YouTube Premium and Google One, as well as hardware products such as Pixel, Nest, Chromebook, and Google Play Store, increased by 14% compared to the same period last year. Alphabet investment projects such as Moonshot Division Calico, CapitalG, Chronicle, GV, Verily, Waymo, X, etc., had a total revenue of US$3.65 million, an increase of 28% compared to the same period last year, but the overall loss amount also increased to US$11.34 billion, an increase of approximately US$1 million compared to the same period last year.
As for Alphabet, it will invest in its Waymo project, as it is optimistic about the prospects for the development of autonomous driving technology applications.An additional $50 billion in funding, thereby helping it to accelerate the introduction of autonomous taxi services to more application scenarios.
The total number of employees across Alphabet and Google is currently 17, a decrease of 9582 compared to the same period last year.
