Alphabet recently disclosed the financial outcomes for the fourth quarter and the fiscal year ending on December 31, 2023. CEO Sundar Pichai emphasized the search sector’s ongoing strength and the increasing profits from YouTube and the cloud service division.
Consolidated revenue in the fourth quarter of 2023 amounted to $86 billion, marking a 13% rise compared to the corresponding period in the prior year.
2023 shutdown
In 2023, the total annual revenue was $307 billion, compared to $282 billion in 2022. Google generated $73 billion in revenue in 2023, accounting for 24% of the total revenue, while in 2022, it earned $59.9 billion, representing 21.2% of the total revenue.
| 2022 | 2023 | |
| Total revenue (million) | $282,836 | $307,394 |
| Net Profit (million) | $59,972 | $73,795 |
| Profit margin (%) | 21.2% | 24.0% |
The company ended 2022 with 190,234 employees, which was a decrease of 7,732 from the previous year’s total of 182,502 staff members.
Highlights of the third quarter of 2023:
- Revenue amounted to $86.310 million, showing a 13% increase from the prior year.
- Operational margin stands at 27%.
- Liquid Profit: It amounted to $20.687 million.
Annual Comparison
Compared to the fourth quarter of 2022, there is significant growth evident across various sectors.
| Industry | Q4 2023 | Q4 2022 |
|---|---|---|
| Google Search & Other | $48,020 | $42,604 |
| YouTube Advertisements | $9,200 | $7.963 |
| Google Cloud | $9,192 | $7.315 |
