Google riding on hot steam, as earnings growth surges by 23%

Google riding on hot steam, as earnings growth surges by 23%

Gross revenue grew 23 per cent year-on-year, from $46 billion in Q4 2019, with operating income at $15.65 billion and net income at $15.2 billion for this quarter. So utilizing our fingers and toes, we will compute that Google's father or mother added $6.4 billion in money through the fourth quarter of the 12 months. "This should accelerate advertiser revenue growth", he said.

YouTube ads brought in $6.89 billion in Q4, a 46 per cent jump from the same quarter a year ago.

It booked $56.9bn in revenue in the fourth quarter, leading full-year revenues to top $182.5bn, and it ended the year with $41.2bn in operating income.

Ruth Porat, CFO of Google and Alphabet, said: "Our strong fourth quarter performance, with revenues of $56.9 billion, was driven by Search and YouTube, as consumer and business activity recovered from earlier in the year".

Soon unlock your iPhone via Apple Watch even with a mask on
A recent report by The Wall Street Journal revealed that less than 20% of iOS 14 users are likely to accept Facebook's tracking. Agreeing to these prompts doesn't result in Facebook collecting new types of data.

Traffic acquisition costs (TAC): $10.47 billion, vs. $9.32 billion as expected by analysts, according to StreetAccount. Analysts were expecting the company to report a profit of $11.9 billion. That resulted in a 42.7% achieve in earnings.

Alphabet shares shot up more than 6% after the bell following its earnings report.

Exxon Mobil Corp posted its first annual loss as a public company after the COVID-19 pandemic hammered energy prices and it reduced the value of its shale gas properties by more than $20 billion in the fourth quarter. Still, it could seem that cash appears to vanish within the cloud.

China's Alibaba Group Holding Ltd added 1.2% after it beat Wall Street estimates for third-quarter revenue, as its e-commerce business benefited from a switch to online shopping triggered by the COVID-19 pandemic. Shares of Alphabet, which rose $26.16 or 1.38% to $1,927.51 during the regular trading session, soared 7.66% in after-hours trading after the earnings report was released. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.

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