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Alphabet continues to demonstrate its leadership in generative AI through significant advancements, particularly with Gemini. The company’s commitment to full-stack development and differentiated AI innovation is evident in its leading infrastructure, world-class research, and scaled product platforms.
| Segmental revenue | Q4 2023 (US$ million) | Q4 2024 (US$ million) | Percentage change |
| Google Services | 76,311 | 84,094 | +10.2% |
| Google Search & other | 48,020 | 54,034 | +12.5% |
| YouTube ads | 9,200 | 10,473 | +13.8% |
| Google Network | 8,297 | 7,954 | -4.1% |
| Google subscriptions, platforms, and devices | 10,794 | 11,633 | +7.8% |
| Google Cloud | 9,192 | 11,955 | +30.1% |
| Other Bets | 657 | 400 | -39.1% |
| Hedging gains (losses) | 150 | 20 | n.m. |
| Total | 86,310 | 96,469 | +11.8% |
Revenue from YouTube and Cloud in 2024 exceeded US$110 billion, surpassing the target of over US$100 billion. Seven of Alphabet’s Gemini-powered products and platforms now serve more than two billion users. Google Services revenue grew 10.2% year-on-year to US$84.1 billion in Q4 2024, primarily driven by a 12.5% increase in advertising revenue from Google Search & Other, notably in the financial services and retail sectors. This growth comes despite a strong Q4 2023 comparison, which had benefited from significant contributions by APAC-based retailers. Alphabet’s investments in AI-powered…
