Alphabet today announced Q3 2023 earnings with $77 billion in revenue. These numbers range from July to September.
Revenue is up 11% from $69.1 billion in Q3 2022, with operating income at $21.34 billion and net income of $19.69 billion for this quarter (versus $13.91 billion a year ago). For comparison, Alphabet reported $74.6 billion in revenue and $18.37 billion in net income last quarter.
“I’m pleased with our financial results and our product momentum this quarter, with AI driven innovations across Search, YouTube, Cloud, our Pixel devices and more. We’re continuing to focus on making AI more helpful for everyone; there’s exciting progress and lots more to come.”
Sundar Pichai, CEO
“The fundamental strength of our business was apparent again in Q3, with $77 billion in revenue, up 11% year over year, driven by meaningful growth in Search and YouTube, and momentum in Cloud. We continue to focus on judicious capital allocation to deliver sustainable financial value.”
Ruth Porat, President and Chief Investment Officer; CFO
In Q3 2023, YouTube ad revenue was $7.95 billion (versus $7.07 billion a year ago), while Cloud reported $8.41 billion (compared to $6.87 billion).
“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $8.34 billion, compared to $6.9 billion the same quarter last year.
“Other Bets” continues to lose money. However, it reported $297 million revenue from $209 million in Q3 of 2022. However, it lost $1.19 billion compared to $1.23 billion (recast) in the same quarter of last year.
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