Alphabet Announces Second Quarter 2024 Results
New Chief Financial Officer Named
Alphabet Inc. (GOOG, GOOGL) announced its financial results for the second quarter of 2024 on July 31, 2024, at 2:00 PM PT. The company also announced the appointment of a new Chief Financial Officer (CFO), Ruth Porat.
Key Financial Highlights:
- Revenue: $75.3 billion, up 21% year-over-year
- Net income: $19.5 billion, up 16% year-over-year
- Earnings per share: $14.34, up 32% year-over-year
CFO Appointment:
Ruth Porat, previously the CFO of Morgan Stanley, has been appointed as Alphabet's new CFO, effective September 1, 2024. She succeeds Patrick Pichette, who announced his retirement earlier this year.
Analyst Commentary:
"Alphabet's strong growth and profitability in the second quarter is a testament to the company's continued success in the digital advertising and cloud computing markets," said Brian Nowak, an analyst at Morgan Stanley. "The appointment of Ruth Porat as CFO is a positive move, and we believe she will bring valuable experience and insights to the company."
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