Google has their self driving car business & Quantum computers (almost as big as IBM)
Google's Self-Driving Car Business
Google's self-driving car company is called Waymo. It was originally the Google Self-Driving Car Project before being spun out into its own company under the parent company, Alphabet, in 2016.
Revenues and Growth:
- Revenues: It's important to note that Waymo is still in a growth and investment phase, and public revenue figures can be estimates or part of a larger, non-disclosed "Other Bets" category within Alphabet. Some estimates place Waymo's annual revenue at around $1.5 billion as of late 2024 or early 2025. Other reports indicate that the "Other Bets" category, which includes Waymo, brought in about $373 million in revenue, but that figure also includes other ventures.
- Growth: The company is experiencing rapid growth in its operations. Waymo completed over 4 million fully autonomous rides in 2024, a significant increase from less than a million in 2023. They are expanding their services to more cities, with plans to launch in Miami and Washington, D.C. by 2026. The company is actively growing its fleet, with orders for tens of thousands of vehicles. One report indicates that Waymo's revenue for 2024 could be in the range of $50-75 million, with projected losses of over a billion dollars for the year as it continues to invest heavily in its technology and expansion.
Google's Quantum Computing Business
Google's quantum computing efforts are led by its Google Quantum AI team. This business is not a traditional revenue-generating division in the same way as other Alphabet subsidiaries. It is still in the research and development phase, with its primary focus on achieving technological breakthroughs rather than generating profit.
Revenues and Growth:
- Revenues: There are no publicly available figures for Google Quantum AI's specific revenue. The quantum computing market as a whole is in its early stages. The global market was valued at around $10.13 billion in 2023 and is projected to grow significantly.
- Growth: The growth is in the form of technological advancement and research, not financial returns. Google is a leader in this field, having achieved "quantum supremacy" in 2019. The company is working on a 1-million-qubit system for error correction, which is a major step toward making quantum computers commercially viable. The quantum computing market is projected to grow at a compound annual growth rate (CAGR) of 35–40% from 2024 to 2030, which indicates a massive future potential, but for now, Google's quantum business is a long-term investment rather than a current profit center.
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Google's (Alphabet's) Business Segments by Revenue (2024)
Based on the most recent full-year data available (Fiscal Year 2024), here are Alphabet's main business segments ranked by revenue:
- Google Search & Other: This is the company's flagship business and its largest revenue driver by a significant margin. It primarily includes revenue from search advertising on google.com, as well as other advertising properties and services. In 2024, this segment generated approximately $198.1 billion in revenue.
- Google Cloud: This segment, which includes Google Cloud Platform (GCP) and Google Workspace, has been one of the company's fastest-growing divisions. It provides cloud computing services and productivity tools to businesses. In 2024, Google Cloud's revenue was $43.2 billion, and it is now consistently profitable.
- Google Subscriptions, Platforms, and Devices: This segment includes a diverse set of products and services, such as revenue from Android app store sales, hardware sales (e.g., Pixel phones, Nest devices), and subscription services like YouTube TV, YouTube Music, and Google One. In 2024, this segment brought in $40.3 billion.
- YouTube Ads: This segment represents all advertising revenue generated on the YouTube platform. It is a massive and growing business on its own. In 2024, YouTube Ads revenue reached $36.1 billion.
- Google Network: This segment includes the revenue from Google's ad network on third-party websites (non-Google properties). It has been a slower-growing or even declining segment in recent years. In 2024, its revenue was $30.4 billion.
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