Google is the fourth most valuable public company in the world, behind Nvidia ($2.2 trillion), Apple ($2.6 trillion), and Microsoft ($3.0 trillion).
Google has faced significant challenges in the past year, including the rise of generative AI and increasing regulation.
Google has undergone significant transformations, reshaping its search, Android, and hardware teams and introducing its Gemini AI model. To realign its focus, the company has also streamlined its projects, implemented workforce reductions, and made strategic financial decisions such as declaring its inaugural dividend and initiating a $70 billion share buyback.
Today, alphabet, Google’s parent company, achieved a $2 trillion market cap, making it the fourth most valuable public company globally. AI was a significant part of that story.
Google is making strides in generative AI, with innovative applications such as leveraging AI in its Performance Max tool to assist advertisers in targeting specific demographics. The company is also equipping around 10,000 call center agents with AI tools and augmenting its revenue through value-based bidding solutions. These ventures, coupled with the success of its existing businesses, have resulted in a Q1 2024 profit of $23.7 billion on revenue of $80.5 billion.
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https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue
Credit: The Verge