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Alphabet's Q4 earnings soar, amid potential layoffs and strategic shifts

Jan 31, 2024 - feed.feedburster.com
Alphabet, Google's parent company, reported a full-year revenue of $307 billion in 2023, marking a 9% increase from 2022. The Q4 earnings report showed YouTube’s ad revenue at $9.2 billion and Google Cloud’s revenue at $9.1 billion. Despite these positive figures, analysts have expressed concern, viewing the report as a warning sign for ad-dependent companies. The report also highlighted Google's investments in AI, with CEO Sundar Pichai noting the growing contribution from YouTube and Cloud.

However, the company has also announced numerous layoffs in early 2023 and January 2024, affecting the augmented reality (AR) hardware, Google Assistant, and core engineering divisions. More layoffs and a slower hiring pace are expected in the near future as the company aims to simplify execution and drive velocity. Google's generative AI was a key focus of the Q4 earnings call, with Pichai hinting at the upcoming 'Gemini Era.'

Key takeaways:

  • Alphabet's Q4 earnings report shows a full-year revenue of $307 billion, a 9% increase from 2022.
  • YouTube’s ad revenue in Q4 was $9.2 billion, while Google Cloud’s revenue was $9.1 billion at the end of 2023.
  • Despite positive figures, analysts feel that this report is a big warning sign for ad-dependent companies.
  • Google has announced numerous layoffs in early 2023 and January 2024, impacting the augmented reality (AR) hardware, Google Assistant, and core engineering divisions.
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