According to Google’s latest financial report, the Irish company in charge of Google Play’s operations grew slightly to Euro2.9 billion in 2024. According to the accounts submitted to the Registrar of Companies, the pre-tax profits of the Google Corporation fell from Euro25.5 million in 2023 to Euro14.1 million last year.
The company did not employ any employees and was taxed at a current rate of 2.7 million euros, without any dividends during the year. Its revenues were roughly the same as at the same time, from 2.89 billion euros in 2023 to 2.9 billion euros in 2024. The vast majority of Google Business’s sources of income are from the GooglePlay application platform in Europe, the Middle East and Africa. Users can buy games, applications, books and audio readings through the store, and Google can draw a share from the sales made by developers through the store.
Google stated in its financial statements that the digital content and application income was “satisfying with expectations” and that the marginal increase in the collection was related to the increased user application expenditure and the upswing of new store applications during the year. The Irish-based company also recorded retail revenues from Google Pixel’s mobile phone series. In 2024, the cost of company sales fell from Euro2.063 billion to Euro1.96 billion (a decrease of Euro103 million), mainly due to lower inventory costs, offset by higher administrative costs. Administrative costs jumped from Euro811 million to Euro918 million (an increase of Euro107 million) as a result of increased inter-firm linkage costs, which, together with the effects of interest rate movements, eventually led to a decline in profits. Google Business is a direct subsidiary of Google Europe, the Middle East and Africa Unlimited, also based in Ireland, and an indirect but fully owned subsidiary of Google America. Another group company, Google Ireland Limited, increased its revenue by 12 per cent in 2024 and distributed 4.5 billion euros of dividends to its parent company, which increased its revenue from 77.3 billion euros to 86.6 billion euros.
