Google’s quarterly results paint a picture of an internet powerhouse getting stronger in AI age
The Hindu
Alphabet’s fourth-quarter profit rose 30% from the prior year to $34.5 billion, or $2.82 per share, while revenue climbed 18% to $113.8 billion.
Google’s latest quarterly report provided further evidence that its internet empire is withstanding an artificial intelligence shakeup that’s turning into another potential boon for the company.
The numbers released Wednesday marked Google's third consecutive quarter of digital ad growth of more than 10% from the previous year, while also posting more than 30% sales growth in its division that powers data centres for AI services.
Those increases during the October-December period propelled Google’s corporate parent Alphabet Inc. well past the earnings forecasts of stock market analysts.
Alphabet’s fourth-quarter profit rose 30% from the prior year to $34.5 billion, or $2.82 per share, while revenue climbed 18% to $113.8 billion.
The collective momentum of Google’s main business in search and advertising and the still-nascent AI field indicates a company born during the late 1990s internet boom is becoming even stronger during another technology phenomenon nearly 30 years later.
“Search saw more usage than ever before, with AI continuing to drive an expansionary moment," Alphabet CEO Sundar Pichai said.
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