Alphabet shares up on strong Q4 report
Google’s parent company, Alphabet, reported revenue of USD 75.3 billion in the fourth quarter of 2021, up 32% year on year. Net income was USD 20.6 billion. For the full 2021 revenue increased 41% to USD 258 billion and profit increased 89% to USD 76 billion
Google’s advertising revenue for the quarter was up 33% to USD 61.24 billion.
Ruth Porat, CFO of Alphabet and Google, said: “Our fourth quarter revenues of $75 billion, up 32% year over year, reflected broad-based strength in advertiser spend and strong consumer online activity, as well as substantial ongoing revenue growth from Google Cloud. Our investments have helped us drive this growth by delivering the services that people, our partners and businesses need, and we continue to invest in long-term opportunities.”
Sundar Pichai, CEO of Alphabet and Google, said: “Our deep investment in AI technologies continues to drive extraordinary and helpful experiences for people and businesses, across our most important products. Q4 saw ongoing strong growth in our advertising business, which helped millions of businesses thrive and find new customers, a quarterly sales record for our Pixel phones despite supply constraints, and our Cloud business continuing to grow strongly.”
The company announced a stock split 20-to-one. In after-hours trading, shares were up more than 8% on the strong report.
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