Ruth Porat has wrapped up her final earnings call as CFO of Alphabet and Google, marking the end of a remarkable chapter. After nearly a decade at the top of one of the world’s most powerful technology companies, Porat is taking on a new role as president and chief investment officer.
Reflecting on a Decade of Leadership
On Tuesday afternoon, Porat took the stage for her 56th earnings call, a milestone that includes 37 calls at Alphabet. Her tenure, which began in 2015, follows a distinguished 27-year career at Morgan Stanley, where she served as finance chief before joining Google. Her farewell message was as thoughtful as it was poignant.
“I’ve been so proud to be at Google and Alphabet as CFO and to work with some of the smartest people in the world every day,” Porat reflected. She highlighted the incredible progress made during her time and expressed confidence that the mission of advancing technology will continue unabated.
A Legacy of Innovation and Growth
Porat’s impact is clear: under her leadership, Google’s financials have seen impressive growth. In the latest quarter ending June 30, Google reported revenues of $84.7 billion, a 14% increase from the previous year. Net income surged to $23.6 billion, up 28.6%, exceeding estimates. The Google Cloud segment, a key focus, surpassed $10 billion in quarterly revenues for the first time, marking a significant milestone in the company’s history.
Her departure from the CFO role opens the door for Anat Ashkenazi, a seasoned executive from Eli Lilly and Company. Ashkenazi, who will take on the role of CFO and SVP, has big shoes to fill. Google CEO Sundar Pichai has expressed gratitude for Porat’s contributions and welcomed Ashkenazi, anticipating a smooth transition.
Looking Forward
Porat’s final earnings call wasn’t just a goodbye but also a forward-looking statement about the future of technology. “The people on this call know that if technological advancement is not the focus of every business and government, they will be left behind,” she warned. This message underscores the crucial role of tech in driving progress and the need for continuous innovation.
As Porat transitions to her new role, she remains closely involved with CEO Sundar Pichai and will continue to influence the company’s strategic direction, particularly in securing global investments.
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