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Charted: Alphabet’s Revenue Breakdown in 2024
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Key Takeaways
- Google-parent Alphabet increased revenues by $42.6 billion over 2024, driven by advertising spending growth and cloud services revenue.
- Google Cloud, its second-biggest revenue driver, saw revenues jump by $10.1 billion.
- Over the past five years, the company has poured $150 billion into research and development to support its AI infrastructure.
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In 2024, Alphabet’s revenue climbed 14% to reach $350 billion, with the U.S. driving about half of annual sales.
Meanwhile, net income totaled $100.1 billion, securing its position as one of the most profitable public companies in the world. Despite recent double-digit declines in its share price in 2025, Alphabet has seen five-year cumulative returns of 206.3% as of March 20, 2025.
This graphic shows Alphabet’s revenue in 2024, based on data from its 10-K annual report.
A Closer Look at Alphabet’s Revenue Streams
Below, we show how Alphabet makes its billions, highlighting the continued dominance of its search engine business:
| Category | Revenue Fiscal Year Ended Dec 31, 2024 | Share of Revenue |
|---|---|---|
| Google Search + Other | $198.1B | 56.6% |
| YouTube Ads | $36.1B | 10.3% |
| Google Network | $30.4B | 8.7% |
| Google Subscriptions, Platforms, and Devices | $40.3B | 11.5% |
| Google Cloud | $43.2B | 12.4% |
| Hedging Gains | $211M | 0.1% |
| Other Bets | $1.6B | 0.5% |
| Total Revenue | $350B | 100% |
Figures rounded.
Despite Google’s share of the search engine market dropping below 90% for the first time in a decade, revenue from this division increased by 13% to reach $198.1 billion.
As the world’s third-largest cloud services provider, Google Cloud generated $43.1 billion in 2024. From AI-optimized infrastructure to assistive agents, these cloud platforms are used by thousands of clients globally. This includes Vertex AI, a platform designed for developers and machine learning engineers to train and build applications using its AI models.
Following closely behind is revenue derived from channels like YouTube subscriptions, Google One, and NFL Sunday Ticket. These are included in its Google Subscriptions, Platforms, and Devices business segment, generating a total of $40.3 billion in 2024.
Learn More on the Voronoi App
To learn more about this topic from a big tech perspective, check out this graphic on the revenue growth of Magnificent Seven companies in 2024.
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