Alphabet Inc. disclosed on Tuesday that it booked $86.3 billion in revenue during the closing quarter of fiscal 2023, representing a 13% jump compared to the corresponding quarter a year before. The figure topped market estimates.
Its diluted earnings per share surged by 56% to land at $1.64 apiece in the fourth quarter, while its operating income soared by 27% to come in at $23.7 billion. Full-year 2023 revenues were $307.4 billion, up by 9% compared to the 2022 figure. Operating income amounted to $84.3 billion, rising by 27%, while its diluted earnings per share clocked in at $5.80, climbing 27%.
"We are pleased with the ongoing strength in Search and the growing contribution from YouTube and Cloud. Each of these is already benefiting from our AI investments and innovation. As we enter the Gemini era, the best is yet to come," CEO Sundar Pichai said.
The company's Class A shares tumbled 4.36% and Class C stock lost 4.14% in extended trading after the report showed that its advertisement revenue fell short of expectations and landed at $65.5 billion in the fourth quarter.