Google Q4 2024: Search Still King, Cloud Rising

•Data Deep Dive

Google (GOOGL)

Q4 2024 Earnings

Revenue Sources

Search & Other
$54.0B
Google Cloud
$12.0B
Subscriptions/Devices
$11.6B
YouTube Ads
$10.5B
Google Network
$8.0B

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Total Revenue

$96.5B
Revenue

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Outcome

$26.5B
Net Income
$70.0B
Expenses
* Visualization is simplified. Data sourced from Q4 2024 reports.

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Google Q4 2024: Search Still King, Cloud Rising

Executive Summary: Alphabet (Google) posted $96.5B in revenue for Q4 2024. The visualization confirms that despite diversification efforts, the company is still fundamentally an advertising juggernaut, with Search and YouTube doing the heavy lifting.

The "Inflow": $96.5 Billion in Revenue

Google's revenue mix is shifting, but the foundation remains solid.

  • Search & Other: $54.0 Billion (56%)
  • Google Cloud: $12.0 Billion (12.4%)
  • Subscriptions, Platforms & Devices: $11.6 Billion
  • YouTube Ads: $10.5 Billion
  • Google Network: $8.0 Billion

The "Outflow": Investing in AI

  • Net Income: $26.5 Billion
  • Total Expenses: $70.0 Billion

Google maintains impressive margins (Net Income margin ~27%). A significant portion of the outflow is now directed towards R&D and infrastructure (CapEx) to support the AI arms race. Unlike Amazon's logistics costs, Google's expenses are heavily weighted towards talent and data centers.

Key Insight

Cloud is finally a major pillar. At $12.0B, Google Cloud has firmly established itself as a significant revenue driver, no longer just a "bet." It has surpassed YouTube Ads ($10.5B) in revenue contribution, marking a pivotal moment in the company's diversification away from pure advertising.

Want to see this flow visually?

See the breakdown of Search vs. Cloud vs. YouTube in our interactive tool. Join the EarningsAtlas waitlist for early access.