"the significant increase in our investments in technical infrastructure will continue to put pressure on the P&L in the form of higher depreciation expenses and related data center operations costs such as energy."
"year-over-year comparisons in advertising will be negatively impacted by the strong spend on U.S. elections in the fourth quarter of 2024, particularly on YouTube."
"benefited from strong operating cash flow and recent tax changes,"
Total revenue reached $102.3 billion, up 16% year-over-year (15% in constant currency), marking the first quarter above $100 billion. Operating income was $31.2 billion, up 9% year-over-year; excluding the €3.5 billion EC fine, operating income rose 22% and operating margin reached 33.9%. Net income was $35 billion, a 33% increase, and EPS rose 35% to $2.87. Total operating expenses increased 28% to $29.7 billion, driven by the EC fine and higher R&D. Google Services revenue grew to $87.1 billion, but Services operating margin fell to 38.5% amid the fine and higher technical infrastructure costs. Free cash flow was $24.5 billion for the quarter and $73.6 billion over the trailing twelve months, partially offset by higher CapEx.
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