On February 15, 2024, at Google France headquarters in Paris, France, Sundar Pichai, CEO of Google and Alphabet, attended the inauguration ceremony of a new French center specializing in the field of artificial intelligence.
Gonzalo Fuentes | Reuters
alphabet Google’s fourth-quarter results announced Wednesday showed better sales and bottom line profits, but parent company Google also said it expects to significantly increase spending on AI in 2026.
The company’s stock price fell slightly in after-hours trading.
Here’s how the company performed compared to the expectations of analysts surveyed by LSEG:
Earnings per share: $2.82 vs. $2.63 estimated Revenue: $113.83 billion vs. $111.43 billion estimated
Wall Street also took note of several other numbers in the report.
Google Cloud: $17.66 billion vs. $16.18 billion (via StreetAccount) YouTube Ads: $11.38 billion vs. $11.84 billion (via StreetAccount) Traffic acquisition cost: $16.59 billion vs. $16.2 billion (via StreetAccount)
The company said it expects capital spending in 2026 to be in the range of $175 billion to $185 billion, nearly double that in 2025.
The company’s revenue increased approximately 18% year-over-year. Net income was $34.46 billion, an increase of nearly 30% year over year.
Advertising revenue was $82.28 billion, an increase of 13.5% from the previous year.
Google Cloud beat Wall Street expectations, bringing in $17.66 billion, up 47% year-over-year. Google’s cloud division houses most of the company’s AI services and products.
YouTube’s ad revenue rose about 9% to $11.38 billion, but fell short of analysts’ expectations of $11.84 billion.
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