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Alphabet (GOOGL-0.72%) is expected to release its fourth-quarter earnings results after the closing bell on Tuesday.
The Google parent’s stock was up by around 2.2% during mid-day trading on Friday. Alphabet shares are up by more than 8% so far this year.
The company is expected to report revenues of $96.7 billion for the fourth quarter of 2024, according to analysts’ estimates compiled by FactSet (FDS-1.07%). Net income is expected at $26.2 billion, while analysts estimate earnings of $2.13 per share.
In December, Google unveiled Gemini 2.0, which it called its most-capable artificial intelligence model to date for the “new agentic era.” AI agents can complete some complex tasks autonomously for a user.
Gemini 2.0's multimodal features, such as native image and audio output, “will enable us to build new AI agents that bring us closer to our vision of a universal assistant,” the company said. With the new AI model’s reasoning capabilities, Google said its AI Overviews feature, which reaches one billion people, will be able to solve advanced multi-step queries, such as mathematical equations and multimodal questions.
On Thursday, Google announced the rollout of its Gemini 2.0 Flash model to the Gemini mobile app and website.
Meanwhile, Demis Hassabis, founder of Alphabet’s drug discovery subsidiary, Isomorphic Labs, said its AI-designed drugs are expected to head to trial by the end of the year.
“AI applied to science is a lot richer than just the language models,” Hassabis, who also serves as chief executive of Google DeepMind, said during a panel at the World Economic Forum in Davos, Switzerland. “We’ll hopefully have some AI-designed drugs in the clinic by the end of the year. That’s the plan.”
Isomorphic Labs, a spin-off of DeepMind, announced deals in July to work with Eli Lilly & Co. (LLY+0.54%) and Novartis (NVS+0.12%) on drug research using its AlphaFold AI model.