Google's Alphabet Q4 and FY2023 report shows flat revenue, increasing profits

Google's parent company Alphabet posted its fourth-quarter and full year 2023 report. While far from a disaster the numbers came short of the expectations, sending the stock tumbling down 6% at time of writing.

Alphabet's revenues in Q4 were $86 billion - up 13% compared to Q4 of 2022. Meanwhile, the company's total unaudited revenue for 2023 is $307 billion - 9% more than in 2022.

Alphabet CEO Sundar Pichai said "We are pleased with the ongoing strength in Search and the growing contribution from YouTube and Cloud". He added that both already benefit from the company's investment in AI and innovation and that the best is yet to come, now in the Gemini era.

Breaking down Alphabet's $86 billion in revenue, Search is the biggest earner, distantly followed by various subscription services.

The company as a whole posted a net profit of $23.7 billion for 2023, compared to $18.2 billion for 2022.

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