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Alphabet-C | 8-K: Alphabet Announces Fourth Quarter and Fiscal Year 2023 Results

SEC announcement ·  Jan 30 16:03
Summary by Moomoo AI
On January 30, 2024, Alphabet Inc., the parent company of Google, released its financial results for the fourth quarter and fiscal year ended December 31, 2023. The announcement was made through a press release and was accompanied by a conference call. Alphabet reported a 13% year-over-year increase in Q4 revenues, reaching $86 billion, and a 9% increase for the fiscal year, with total revenues of $307.394 billion. Operating income for Q4 rose to $23.697 billion, reflecting an operating margin of 27%. Net income for the quarter was $20.687 billion, with diluted earnings per share (EPS) of $1.64. The company highlighted the strength in Search, YouTube, and Cloud services, attributing growth to investments in AI. Alphabet also reported a workforce reduction and office space optimization, resulting in severance and related charges of $2.1 billion for the year. Additionally, the company adjusted the estimated useful lives of its servers and network equipment, which reduced depreciation expense and increased net income. The financial statements and additional details were provided as exhibits to the SEC filing.
On January 30, 2024, Alphabet Inc., the parent company of Google, released its financial results for the fourth quarter and fiscal year ended December 31, 2023. The announcement was made through a press release and was accompanied by a conference call. Alphabet reported a 13% year-over-year increase in Q4 revenues, reaching $86 billion, and a 9% increase for the fiscal year, with total revenues of $307.394 billion. Operating income for Q4 rose to $23.697 billion, reflecting an operating margin of 27%. Net income for the quarter was $20.687 billion, with diluted earnings per share (EPS) of $1.64. The company highlighted the strength in Search, YouTube, and Cloud services, attributing growth to investments in AI. Alphabet also reported a workforce reduction and office space optimization, resulting in severance and related charges of $2.1 billion for the year. Additionally, the company adjusted the estimated useful lives of its servers and network equipment, which reduced depreciation expense and increased net income. The financial statements and additional details were provided as exhibits to the SEC filing.
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