Alphabet Inc. Reports Strong Q4 Growth

Alphabet Inc. announced a significant 12% increase in revenue for the fourth quarter of fiscal 2024, reaching $96.5 billion. Despite this growth, the figures slightly missed market expectations.

The tech giant also reported a 31% surge in diluted earnings per share to $2.15, alongside a 32% increase in operating income, totaling $30.9 billion. Net income saw a 28% year-over-year growth, amounting to $26.5 billion for the quarter.

CEO Sundar Pichai on Future Investments

"Our Q4 performance underscores our leadership in AI and the momentum across our business. We're accelerating our product development and making strides in computational efficiency. Looking ahead, we're excited about the opportunities and plan to invest approximately $75 billion in capital expenditures in 2025," stated CEO Sundar Pichai.

Following the earnings report, Alphabet's Class A shares decreased by 6.61%, and Class C shares dropped by 6.30% in extended trading.