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Alphabet Inc. (GOOG-7.20%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports revenues of $350.0 billion, an increase of 14% from the previous year, driven by growth in Google Services and Google Cloud.
Operating income for the year was $112.4 billion, up 33% from 2023, with an operating margin of 32%.
Net income for the year was $100.1 billion, a 36% increase from the previous year, with diluted earnings per share of $8.04.
Google Services, which includes advertising and other products, reported revenues of $304.9 billion, up 12% from 2023.
Google Cloud revenues grew by 31% to $43.2 billion, reflecting increased customer demand for cloud services.
Other Bets, which includes various early-stage businesses, generated $1.6 billion in revenues.
The company reported $95.7 billion in cash, cash equivalents, and short-term marketable securities as of December 31, 2024.
Capital expenditures for the year totaled $52.5 billion, primarily for investments in technical infrastructure.
Alphabet's board authorized an additional $70.0 billion for Class A and Class C share repurchases, with $44.7 billion remaining available as of year-end.
The company paid $7.4 billion in dividends during 2024, following the initiation of a quarterly cash dividend program.
Alphabet identified several ongoing regulatory and legal challenges, including antitrust investigations and privacy-related lawsuits, which could impact future operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Alphabet Inc. annual 10-K report dated February 5, 2025. To report an error, please email earnings@qz.com.