Google continues to dominate the global tech industry, driving everything from search engines and ads to cloud infrastructure. A closer look at the company’s 2024 10-K annual report reveals just how Google makes its money—and how it keeps growing year after year.
Google Hits $350 B Revenue Milestone in 2024
In 2024, Google posted a whopping $350.02 billion in total revenue, marking a 14% year-over-year growth. Even more impressive, the company achieved a net income of $100.1 billion, reinforcing its status as one of the most profitable public companies in the world.
Despite some stock market turbulence in 2025, Google’s long-term outlook remains strong, with a five-year return of 206.3% as of March 20, 2025.
Advertising Still Google’s Golden Goose
Google’s biggest cash cow remains its advertising division, bringing in a massive $264.6 billion in 2024. Breaking that down further:
- Google Search & Other: $198.1 billion (up 13%)
- YouTube Ads: $36.14 billion
- Google Network: $30.35 billion
Even though Google’s search engine market share saw a slight dip, ad revenue still surged, highlighting the platform’s enduring dominance.
Google Cloud on the Rise
Google Cloud is rapidly becoming a major growth engine. In 2024, it brought in $43.23 billion, solidifying Google’s place as the third-largest cloud service provider globally. The cloud division offers advanced AI infrastructure and services like Vertex AI, widely used by developers and machine learning professionals.
Subscriptions & Devices Also Contribute
Google’s Subscriptions, Platforms, and Devices segment earned $40.34 billion in 2024. This includes revenue from:
- YouTube Premium & Music
- Google One cloud storage
- NFL Sunday Ticket and more
These products reflect Google’s strategy to diversify beyond ads.
Smaller Segments
Other revenue contributors include
- Other Bets: $1.65 billion (covering moonshot projects)
- Hedging Gains/Losses: $0.21 billion
While these numbers are small compared to advertising and cloud, they reflect Google’s commitment to innovation and risk management.
Where Is Google Making Its Money?
Nearly half of Google’s revenue comes from the United States, underlining the strength of its domestic market. However, international markets also play a significant role, especially in advertising and cloud services.
With $350 billion in revenue, strong growth across segments, and expanding global reach, Google’s 2024 performance highlights a business model built on advertising dominance, cloud expansion, and strategic diversification. Its ability to scale and innovate across sectors makes it a powerhouse with no signs of slowing down.
