Google’s European annual revenue surpasses $100bn

Net profit for the full year up by more than a third

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Image: Dotdash Meredith

For the first time, Google recorded annual sales in Europe and the surrounding area (EMEA) in excess of $100 billion. One blemish on the quarterly report is the decline in revenue from advertising outside Google’s own domains.

Net profit for the full year also exceeded a $100 billion for the first time ($100.12 billion, up 35%). Still, investors are getting rid of the stock in after-hours trading, dropping just under 7% to $194.

Google Cloud saw a 30% increase in revenue to $12 billion, stemming from Cloud Platform (GCP), AI infrastructure and generative AI solutions. The latter two are listed for beauty, as details on usage and results are not shared with the market.

Cloud accounted for 12.5% of quarterly revenue. This arm more than doubled operating income, from $864 million to $2.1 billion.

Looking at the advertising business, Search is still dominant. It accounts for more than half of revenue, $54 billion out of $96 billion. YouTube advertising rose 13% and at Google Network the group posted a 5% decline.

A $2.4 billion dividend will be paid to shareholders for the past quarter.

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Read More: Google Results