Alphabet Inc. revealed on Tuesday that it booked $96.5 billion in revenue during the fourth quarter of fiscal 2024, seeing a 12% jump compared to the corresponding quarter a year before. The figure slightly missed market estimates.
Its diluted earnings per share surged by 31% to land at $2.15 apiece in the fourth quarter, while its operating income soared by 32% to come in at $30.9 billion. The tech giant's net income grew 28% year-over-year to $26.5 billion in the reported trimester.
"Q4 was a strong quarter driven by our leadership in AI and momentum across the business. We are building, testing, and launching products and models faster than ever, and making significant progress in compute and driving efficiencies ... We are confident about the opportunities ahead, and to accelerate our progress, we expect to invest approximately $75 billion in capital expenditures in 2025, " CEO Sundar Pichai commented on the report. The company's Class A shares fell 6.61% and Class C stock dropped 6.30% in extended trading.
