Alphabet Inc. (NASDAQ: GOOG, GOOGL) reported fourth quarter 2023 earnings results today.
Revenues increased 13% year-over-year to $86.3 billion.
Net income was $20.7 billion, or $1.64 per share, compared to $13.6 billion, or $1.05 per share, last year.
Revenue and earnings beat estimates but the stock fell over 3% in aftermarket hours on Tuesday.
CEO Sundar Pichai said, “We are pleased with the ongoing strength in Search and the growing contribution from YouTube and Cloud. Each of these is already benefiting from our AI investments and innovation. As we enter the Gemini era, the best is yet to come.”