Alphabet Inc. (NASDAQ:GOOG) Q3 2023 Earnings Call Transcript October 24, 2023 4:30 PM ET

Company Participants

Jim Friedland - Director of Investor Relations

Sundar Pichai - Chief Executive Officer

Philipp Schindler - Chief Business Officer

Ruth Porat - Chief Financial Officer

Conference Call Participants

Brian Nowak - Morgan Stanley

Doug Anmuth - JPMorgan

Eric Sheridan - Goldman Sachs

Lloyd Walmsley - UBS

Michael Nathanson - MoffettNathanson

Justin Post - Bank of America

Ken Gawrelski - Wells Fargo

Mark Mahaney - Evercore

Operator

Welcome, everyone. Thank you for standing by for the Alphabet Third Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, Jim Friedland, Director of Investor Relations. Please go ahead.

Jim Friedland

Thank you. Good afternoon, everyone, and welcome to Alphabet's third quarter 2023 earnings conference call. With us today are Sundar Pichai, Philipp Schindler and Ruth Porat.

Now, I'll quickly cover the safe harbor. Some of the statements that we make today regarding our business operations and financial performance may be considered forward-looking. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our Form 10-K, including our Risk Factor section and our Form 10-Qs. We undertake no obligation to update any forward-looking statement.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today's earnings press release, which is distributed and available to the public through our investor relations website located at abc.xyz/investor. Our comments will be on year-over-year comparisons unless we state otherwise.

And now, I'll turn the call over to Sundar.

Sundar Pichai

Thank you, Jim, and hello, everyone. I'm pleased with our business results this quarter, which demonstrates strong growth in Search and YouTube and momentum in Cloud. Google turned 25 in September, which offered an opportunity to reflect on our progress over the last quarter century and to look ahead to the opportunities enabled by AI we are so excited and confident about.

Our product momentum continued this quarter, as you saw with Cloud Next, Made on YouTube and Made by Google. It's all part of our focus on making AI more helpful for everyone, and we are making good progress across the four areas that we shared last quarter. First, improving knowledge and learning. This includes our work with the Search Generative Experience, which is our experiment to bring Generative AI capabilities into Search. We have learned a lot from people trying it, and we have added new capabilities, like incorporating videos and images into responses and generating imagery. We've also made it easier to understand and debug generated code.