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Google’s parent company Aplphabet reported its financial results for the third quarter of 2024 on October 29, 2024. Among them, Google CEO Sundar Pichai reveals that “More than a quarter of Google’s new code is generated by AI.”
Alphabet Q3 earnings call: CEO Sundar Pichai’s remarks
https://blog.google/inside-google/message-ceo/alphabet-earnings-q3-2024/
GOOG Exhibit 99.1 Q3 2024 – 2024q3-alphabet-earnings-release.pdf
https://abc.xyz/assets/71/a5/78197a7540c987f13d247728a371/2024q3-alphabet-earnings-release.pdf
More than a quarter of new code at Google is generated by AI – The Verge
https://www.theverge.com/2024/10/29/24282757/google-new-code-generated-ai-q3-2024
As of the end of the third quarter of 2024, sales were $ 88,268 million (approximately 13,540 billion yen), an increase of 15% compared to the previous year. Operating income was $28.521 billion (approximately 4.37 trillion yen), an increase of 33% from the previous year. Net income was $26,301 million (approximately 4,030 billion yen), an increase of 33% from $19,689 million (approximately 3,018.5 billion yen) in the same period last year.
Below is a table summarizing the profits for each department.
Google search and others increased 12.1% year-on-year to $4,938.5 million (approximately 7,570 billion yen), YouTube advertising revenue increased 12.1% year-on-year to $8,921 million (approximately 1,360 billion yen), Google Network was $7.548 billion (about 1.15 trillion yen), down 1.6% from the previous year. Pichai said, “YouTube’s total ad revenue and subscription revenue for the past quarter exceeded $50 billion (approximately 7.6 trillion yen) for the first time.” One example is the collaboration between Sunday Ticket and YouTube Music Premium.”
In addition, Google’s subscription, platform, and device-related sales increased by 27.7% from the previous year to $10.656 billion (approximately 1.45 trillion yen).
Furthermore, Google Cloud’s revenue is $ 11,353 million (about 1,740 billion yen), which is rapidly growing by 35% from the previous year. “Our strong technology leadership and AI portfolio helps us acquire new customers, reach larger accounts, and bring our products to existing customers,” said Pichai. Used to build and customize the best foundational models the industry has to offer, Gemini API calls have increased approximately 14x over the past six months.”
Alphabet’s “Other Bets” is $388 million (approximately 59 billion yen), an increase of 30% from the previous year, and includes AI-related businesses such as Waymo, which develops self-driving cars. “Waymo is now the clear technology leader in the self-driving vehicle industry and has created growing commercial opportunities,” Pichai said. We have provided more than 150,000 paid rides.”
In addition, we pay third-party search engines etc. to acquire traffic and users.Traffic Acquisition Cost(TAC)” is also on the rise, and TAC in the third quarter of 2024 was $13.719 billion (approximately 2.1 trillion yen), an increase of 9% from the previous year.
In the release, Pichai revealed that Google is ramping up its approach to AI innovation, with the AI assistant app “Gemini” aimed at faster deployment of new models and more efficient post-training tasks. has transferred its development team to Google DeepMind, a subsidiary of Google.reportIn addition, the company announced that it is using AI to improve its coding process. According to Pichai, more than a quarter of the new code created at Google is generated by AI, and is used internally after being reviewed by human engineers. “AI generates code that frees up engineers to do other tasks and makes them more efficient,” Pichai said. “We continue to focus on creating great products. “I’ll do it,” he said.
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