During the earnings call on April 25, Google CEO Sundar Pichai revealed that both YouTube and Google’s cloud business are projected to collectively surpass $100 billion in revenue by the end of 2024, showcasing new avenues of profitability for the company. Pichai emphasized their track record of investing in and nurturing successful, emerging businesses. Alphabet, Google’s parent company, announced revenue of $80.5 billion for the January-March quarter of 2024, marking a 15% increase from the previous year. Operating income rose by 46.3%, and net income surged by 57%.
The company generated sales, excluding partner payouts, of $67.6 billion for the three months that ended on March 31, surpassing the $66.1 billion expected on average by analysts, as per Bloomberg. The company’s net income was $1.89 pershare, compared with Wall Street’s estimate of $1.53 per share.
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