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Google revenue crosses $100 billion first time ever: Google business that grew fastest
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Google’s parent company Alphabet, shattered records Wednesday, October 29, by reporting its first-ever $100 billion in quarterly revenue. The tech giant’s revenues climbed 16% year-over-year to $102.3 billion in the third quarter. Net income soared 33% to $35 billion, underscoring Alphabet’s knack for riding the artificial intelligence wave reshaping the industry.
Google Cloud unit stole the spotlight in Q3, with the division growing fastest reporting a staggering 34% revenue jump to $15.2 billion. Competing fiercely against Amazon Web Services and Microsoft Azure, Google Cloud turned in a profit of $3.59 billion — topping estimates of $3 billion—and solidified its role as Alphabet’s premier growth engine. The unit’s backlog of unfulfilled contracts stands at $155 billion, a clear signal of AI-driven demand. CEO Sundar Pichai praised the “strong momentum” from AI integrations, including global rollouts of features in Google Search and the Gemini models, with the Gemini App now boasting over 650 million monthly active users.
“Alphabet had a terrific quarter, with double-digit growth across every major part of our business,” Pichai said in a statement. Core search and advertising remained the revenue backbone at $56.6 billion (up from $49.4 billion), while YouTube ads rose to $10.3 billion from $8.9 billion. Alphabet also touted over 300 million paid subscriptions across Google One and YouTube Premium.
The company said its Gemini app now boasts over 650 million monthly active users and that a growing amount of users were using the company’s AI Mode for search queries.
Rise in capex worries analyts
Like other major tech companies, Google’s spending spree too has raised worries about a potential bubble. Though in Google’s case rise in capital expenditure is not as high as that for Meta and Nvidia. Alphabet now expects to budget $91 billion to $93 billion for capital expenditures this year, up from $85 billion in its previous quarterly report issued in July, with most of the money said to be earmarked for the massive data centers needed to power AI.
“Other Bets” report lossees
While Google showed robust growth, Alphabet’s experimental “Other Bets” division, which includes autonomous vehicle unit Waymo, posted a loss of $1.4 billion on revenues of just $344 million.
