Alphabet Inc. (GOOGL) reported its fourth-quarter and full-year results for 2023 on October 30, revealing an 18% revenue increase, with annual sales surpassing $400 billion for the first time. The growth was broad-based across digital advertising, cloud computing, and AI initiatives.
Significantly, Google Cloud achieved an impressive 48% growth rate, and Search revenue grew by 17%. The company plans to invest between $175 billion and $185 billion in capital expenditures by 2026, primarily to boost its AI infrastructure. Alphabet also highlighted 750 million monthly active users for its Gemini AI app, showcasing its increasing traction in generative AI.
Shares of Alphabet currently trade at approximately 30.1x forward earnings, competitively positioned against peers like Nvidia and Apple. Key figures also include YouTube generating more than $60 billion in annual revenue and 325 million paid subscriptions across services, further diversifying Alphabet’s revenue streams.
