Alphabet Inc. Files Q2 2024 10-Q Report

TL;DR

Alphabet's Q2 10-Q is in. Get the latest numbers.

AI Summary

Alphabet Inc. filed its 10-Q report for the period ending June 30, 2024. The filing covers the second quarter of 2024 and provides financial updates for the company. Specific financial figures and operational details are detailed within the report, which is a standard quarterly disclosure for public companies.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational insights for Alphabet Inc., crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently introduce new risks.

Key Numbers

• 2024 Q2 — Reporting Quarter (The period covered by this 10-Q filing.)
• 2024-06-30 — End of Fiscal Period (The specific date through which financial information is reported.)
• 2024-07-24 — Filing Date (The date Alphabet Inc. submitted this 10-Q to the SEC.)

Key Players & Entities

• Alphabet Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240724 (date) — Filing date of the report
• 1600 AMPHITHEATRE PARKWAY (address) — Alphabet's business and mail address
• MOUTAIN VIEW, CA 94043 (address) — Alphabet's business and mail city, state, and zip

FAQ

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value GOOGL Nasdaq Stock Market LLC

Filing Documents

• goog-20240630.htm (10-Q) — 1975KB
• googexhibit3101q22024.htm (EX-31.01) — 11KB
• googexhibit3102q22024.htm (EX-31.02) — 11KB
• googexhibit3201q22024.htm (EX-32.01) — 9KB
• 0001652044-24-000079.txt ( ) — 10955KB
• goog-20240630.xsd (EX-101.SCH) — 57KB
• goog-20240630_cal.xml (EX-101.CAL) — 109KB
• goog-20240630_def.xml (EX-101.DEF) — 312KB
• goog-20240630_lab.xml (EX-101.LAB) — 761KB
• goog-20240630_pre.xml (EX-101.PRE) — 534KB
• goog-20240630_htm.xml (XML) — 2265KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1 Financial Statements 5 Consolidated Balance Sheets - December 31, 2023 and June 30, 2024 5 Consolidated Statements of Income - Three and Six Months Ended June 30 , 2023 and 2024 6 Consolidated Statements of Comprehensive Income - Three and Six Months Ended June 30 , 2023 and 2024 7 Consolidated Statements of Stockholders' Equity - Three and Six Months Ended June 30 , 2023 and 2024 8 Consolidated Statements of Cash Flows - Six Months Ended June 30 , 2023 and 2024 10

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures About Market Risk

Item 3 Quantitative and Qualitative Disclosures About Market Risk 47

Controls and Procedures

Item 4 Controls and Procedures 47

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1 Legal Proceedings 49

Risk Factors

Item 1A Risk Factors 49

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 49

Other Information

Item 5 Other Information 50

Signatures

Signatures 52 2 Table of Contents Alphabet Inc. Note About Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, among other things, statements regarding: the growth of our business and revenues and our expectations about the factors that influence our success and trends in our business; fluctuations in our revenues and margins and various factors contributing to such fluctuations; our expectation that the continuing shift from an offline to online world will continue to benefit our business; our expectation that the portion of our revenues that we derive beyond advertising will continue to increase and may affect our margins; our expectation that our traffic acquisition costs (TAC) and the associated TAC rate will fluctuate, which could affect our overall margins; our expectation that our monetization trends will fluctuate, which could affect our revenues and margins; fluctuations in paid clicks and cost-per-click as well as impressions and cost-per-impression, and various factors contributing to such fluctuations; our expectation that we will continue to periodically review, refine, and update our methodologies for monitoring, gathering, and counting the number of paid clicks and impressions; our expectation that our results will be affected by our performance in international markets as users in developing economies increasingly come online; our expectation that our foreign exchange risk management program will not fully offset our net exposure to fluctuations in foreign currency exchange rates; the expected variability of gains and losses related to hedging activities under our foreign exchange risk management program; the amount and timing of revenue recognition from customer contracts with commitments for performance obligations, including our estimate of the remaining amount of commitments and when we expe

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Alphabet Inc. CONSOLIDATED BALANCE SHEETS (in millions, except par value per share amounts) As of December 31, 2023 As of June 30, 2024 (unaudited) Assets Current assets: Cash and cash equivalents $ 24,048 $ 27,225 Marketable securities 86,868 73,500 Total cash, cash equivalents, and marketable securities 110,916 100,725 Accounts receivable, net 47,964 47,087 Other current assets 12,650 14,183 Total current assets 171,530 161,995 Non-marketable securities 31,008 34,172 Deferred income taxes 12,169 14,958 Property and equipment, net 134,345 151,155 Operating lease assets 14,091 13,606 Goodwill 29,198 29,185 Other non-current assets 10,051 9,699 Total assets $ 402,392 $ 414,770 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 7,493 $ 6,092 Accrued compensation and benefits 15,140 11,373 Accrued expenses and other current liabilities 46,168 47,298 Accrued revenue share 8,876 8,899 Deferred revenue 4,137 4,251 Total current liabilities 81,814 77,913 Long-term debt 13,253 13,238 Deferred revenue, non-current 911 985 Income taxes payable, non-current 8,474 7,703 Deferred income taxes 485 717 Operating lease liabilities 12,460 11,708 Other long-term liabilities 1,616 1,753 Total liabilities 119,013 114,017 Commitments and Contingencies (Note 8) Stockholders' equity: Preferred stock, $ 0.001 par value per share, 100 shares authorized; no shares issued and outstanding 0 0 Class A, Class B, and Class C stock and additional paid-in capital, $ 0.001 par value per share: 300,000 shares authorized (Class A 180,000 , Class B 60,000 , Class C 60,000 ); 12,460 (Class A 5,899 , Class B 870 , Class C 5,691 ) a nd 12,322 (Class A 5,860 , Class B 866 , Class C 5,596 ) shares issued and outstanding 76,534 79,732 Accumulated other comprehensive income (loss) ( 4,402 ) ( 5,012 ) Retained earnings 211,247 226,033 Total stockholders' equity 283,379 300,753 Total liabilities and stockholde

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 1. Summary of Significant Accounting Policies Nature of Operations Google was incorporated in California in September 1998 and re-incorporated in the State of Delaware in August 2003. In 2015, we implemented a holding company reorganization, and as a result, Alphabet Inc. ("Alphabet") became the successor issuer to Google. We generate revenues by delivering relevant, cost-effective online advertising; cloud-based solutions that provide enterprise customers with infrastructure and platform services as well as communication and collaboration tools; sales of other products and services, such as fees received for subscription-based products, apps and in-app purchases, and devices. Basis of Consolidation The consolidated financial statements of Alphabet include the accounts of Alphabet and entities consolidated under the variable interest and voting models. Intercompany balances and transactions have been eliminated. Unaudited Interim Financial Information These unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP), and in our opinion, include all adjustments of a normal recurring nature necessary for fair financial statement presentation. Interim results are not necessarily indicative of the results to be expected for the full year ending December 31, 2024. We have made estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates. These consolidated financial statements and other information presented in this Form 10-Q should be read in conjunction with the consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC. Recent Accounting Pronouncements In November 2023, th

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