Thank you for standing by for the Alphabet fourth quarter and fiscal year 2024 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session.

YouTube ad revenue provided a bright spot in an otherwise mixed quarter for Google parent Alphabet.

Alphabet's Q4 results were far from inspiring, with the company’s revenue missing estimates and its key growth segment, Google Cloud, underperforming market expectations. While Google’s search business continues to generate stable revenue through its advertising efforts, growth in this area is expected to remain in the single digits for 2025.

Key Takeaways Google parent Alphabet said it plans to spend $75 billion in capital expenditures this year, as it expands capacity to meet demand for AI.CFO Anat Ashkenazi said a majority of that spending would go toward technical infrastructure,