In other developments, Google's YouTube ads recorded a revenue of $7.9 billion, a 12% increase from the previous year. Google's cloud business also saw a 22% growth compared to Q3 2022, with revenues of $8.4 billion. However, the company has not yet announced a successor for CFO Ruth Porat, who is set to take on the roles of president and chief investment officer of both Alphabet and Google.
Key takeaways:
- Google's CEO Sundar Pichai has expressed the company's intention to experiment with new formats tailored to the workings of Search Generative Experience (SGE), an AI-powered feature.
- Google is focusing on a long-term integration of AI into its search functionality, with Pichai envisioning a decade of transformation for search and Assistant.
- Other segments of Google's business, such as YouTube ads and cloud business, are thriving, with revenues of $7.9 billion and $8.4 billion respectively.
- Alphabet's CFO Ruth Porat's successor remains undisclosed, but Porat hinted at potential changes to Alphabet's "Other Bets" investments.