Google revenue during the July-September period went up 15 per cent to $88.3 billion, while profit increased 34 per cent to $26.3 billion
Google CEO Sundar Pichai said that the technology giant is employing artificial intelligence (AI) internally to increase productivity. In the earnings call for the third quarter on October 29, Pichai said that around 25 per cent of the new code at the technology giant is developed using AI. After generation, it is then reviewed and accepted by engineers.
“We’re also using AI internally to improve our coding processes, which is boosting productivity and efficiency. Today, more than a quarter of all new code at Google is generated by AI, then reviewed and accepted by engineers,” said Pichai.
The company’s revenue during the July-September period went up 15 per cent to $88.3 billion, while profit increased 34 per cent to $26.3 billion. The revenue on a year-on-year basis increased from 11 per cent in Q3 2023 to 15 per cent in Q3 2024.
Pichai said the tech giant has gained “extraordinary” momentum driven by the strong performance of its search and cloud businesses.
“The momentum across the company is extraordinary. Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tool,” said the CEO.
Revenues of Google services increased 13 per cent to $76.5 billion, mainly due to strong performance of Google search, Google subscriptions, platforms, and devices and YouTube ads. Google cloud income surged 35 per cent to $11.4 billion, led by growth in the company’s cloud platform across AI infrastructure and generative AI solutions.
Pichai said that the company is gearing up to lead the tech space in the era of AI. He highlighted three key reasons why he is confident about Google being at the forefront, including developing data centres, chips, and global fiber networks, a research team that is driving the work with in-depth technical AI research and creating a broad global reach through its products and platforms.
Earlier this month, Google signed a deal with Kairos Power to build a small nuclear reactor to power its artificial intelligence (AI) data centres. The giant will buy nearly 500 MW of nuclear power from six to seven reactors developed by Kairos Power.