Alphabet: Alphabet, the parent company of US tech giant Google, saw a rise in both revenues and net income in the last quarter of 2024 compared to the same period in 2023, according to figures released on Wednesday.

According to Anadolu Agency, Alphabet's revenue in the last quarter of the year rose 12% compared to the same period the previous year, reaching $96.5 billion. The company's net income also jumped 28% to $26.5 billion during the same timeframe.

The company's earnings per share increased from $1.64 in the last quarter of 2023 to $2.15 in the corresponding period last year. Alphabet's revenues, while improved, remained below expectations in the last quarter of 2024, though its net income surpassed forecasts.

On a yearly basis, the company's revenues for the entire year rose 14% to $350 billion in 2024, and its net income soared 36% to $100.1 billion compared to 2023.

"Q4 was a strong quarter driven by our leadership in AI and momentum across the business. We are building, testing, and launching products and models faster than ever, and making significant progress in compute and driving efficiencies," said Sundar Pichai, Alphabet's CEO.