Google Beats Q4 Expectations Despite Stock Slump, Fueled by AI and Cloud Growth
• Revenue of $4.92B surpassed expectations by $40M; EPADS of $3.08 also beat consensus estimates • Focusing on driving gains with AI offerings and improving operational efficiency • Core revenue rose 7% to $3.87B; online marketing portion increased 6% • Robust momentum in AI Cloud business helped lift non-online marketing revenue by 9% • Has $28.93B in cash at end of December 2023; share price has corrected 19% over past year