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Q4 Earnings Call: CEO Remarks
- AI Infrastructure
- World-Class Research
- Search and Other Products
- Google Cloud
- YouTube
- Platforms and Devices
- Waymo
Editor's Note: Google and Alphabet CEO Sundar Pichai shared insights during the 2024 Q4 earnings call, highlighting the company’s continued momentum and innovation, with AI playing a pivotal role in driving their success. Below is a summary of his remarks.
We had another strong quarter in Q4, driven by our leadership in AI and our distinctive full-stack approach. Our progress across compute, model capabilities, and efficiency improvements has been remarkable. We’re releasing product updates rapidly and seeing great momentum in consumer and developer engagement. We’re also pushing forward in areas like AI agents, advanced research, state-of-the-art video, and quantum computing.
Our company is running at full speed, building, testing, and launching products faster than ever. This efficiency is translating into increased product usage, growing revenue, and solid results.
Search: AI Overviews are now available in over 100 countries, driving higher satisfaction and more frequent searches. Additionally, Circle to Search is now accessible on more than 200 million Android devices.
Cloud and YouTube: At the start of 2024, we set a goal to reach a combined annual revenue run rate of over $100 billion, which we surpassed, closing the year at $110 billion.
Looking ahead, I’ll update you on our AI progress and how it’s benefiting our core consumer products. Then, I’ll touch on developments in Cloud, YouTube, Platforms and Devices, and Waymo.
AI Progress
I previously outlined the three pillars of our unique full-stack AI approach:
- Leading AI infrastructure
- World-class research, including models and tools
- Products and platforms that deliver these innovations to people at scale
AI Infrastructure: Our advanced, global cloud network provides a strong foundation for us and our customers. By developing every component of our technology stack—hardware, compilers, models, and products—we achieve efficiencies at all levels, from training to developer productivity. In 2024, we broke ground on 11 new Cloud regions and data center campuses globally, including in South Carolina, Indiana, and Missouri, and initiated seven subsea cable projects to strengthen global connectivity.
Our data centers have become significantly more efficient, delivering nearly four times more computing power per unit of electricity compared to five years ago. This scalability and performance make Google Cloud increasingly attractive to organizations, with customers now consuming more than eight times the compute capacity for training and inference compared to 18 months ago.
World-Class Research: In December, we launched Gemini 2.0, our most advanced AI model. We also introduced Gemini 2.0 Flash, a high-performance model with low latency. Flash is now available to developers and customers, alongside other model updates. Additionally, we released the Gemini 2.0 Flash Thinking model, which has shown fast progress and positive reviews. We are working on even more advanced thinking models.
Gemini 2.0’s capabilities in multimodality and native tool integration are helping us create new AI agents, such as Deep Research, which explores complex topics and delivers key insights with sources. Deep Research is now available to Android users worldwide.
We’ve also made significant strides in generative media models, such as Veo 2 (video generation) and Imagen 3 (text-to-image). These models, along with Gemini, continue to top industry benchmarks. Today, over 4.4 million developers are using Gemini, double the number from just six months ago.
Additionally, our quantum computing efforts saw a breakthrough with the announcement of Willow, a new chip that dramatically reduces errors as we scale up with more qubits, taking us closer to building practical quantum computers.
Products and Platforms: Our AI innovations are being integrated into products used by billions of people. Search now uses Gemini for AI Overviews, driving increased usage and engagement, particularly among younger users. Circle to Search has also contributed to more frequent searches, especially among younger users.
Looking ahead, 2025 is set to be one of the biggest years yet for Search innovation as AI expands the types of queries people can make.
Cloud
In Cloud, our AI-powered offerings have led to significant customer wins, such as Mercedes Benz, Mercado Libre, and Servier. Our AI Hypercomputer, which combines GPUs and TPUs for optimal performance, has been key in helping customers like Citadel and Wayfair improve their platforms.
Vertex AI, our AI developer platform, saw a 5x increase in customers year-over-year, with brands like Mondelez International and WPP using our 200+ foundation models. We also saw a 20x increase in usage of Gemini Flash and other models.
Our AI-powered platforms in databases, data analytics, and cybersecurity continue to see strong adoption, with customers like Radisson Hotels using Gemini to analyze multi-modal data across Clouds. Additionally, our AI-powered Threat Intelligence products help companies like Vodafone and AstraZeneca protect against security threats.
YouTube
Nielsen data shows that YouTube continues to lead in streaming watchtime in the U.S., with our market share at an all-time high. On election day, over 45 million U.S. viewers watched election-related content on YouTube.
We are also seeing success with podcasts, where YouTube is now the top service for podcast consumption in the U.S. according to Edison. Our YouTube Shopping program continues to grow, with over 250,000 creators involved in the affiliate program in the U.S. and Korea.
Platforms and Devices
Google One has been one of our fastest-growing subscription services, seeing significant growth in both subscribers and revenue. We also announced Android 16 and Android XR, a new platform built for the Gemini era, in collaboration with Samsung and Qualcomm, designed for next-gen extended reality devices.
Waymo
Finally, Waymo made impressive strides last year, completing over 4 million passenger trips and averaging more than 150,000 trips per week. This year, Waymo will expand its network to new markets like Austin and Atlanta, with plans for Miami next year. Additionally, Waymo One vehicles will soon begin their first international road trip in Tokyo.
We’re also working on Waymo Driver, our sixth-generation self-driving technology, which will significantly reduce hardware costs.
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