Your 'searches' helped Google make billions of dollars

Your 'searches' helped Google make billions of dollars

Google Services contributed $52.9 billion in net income in the quarter, Google Cloud added $3.8 billion, and Alphabet's other bets added $196 billion. However, sales and marketing expenses declined almost 8% for the fourth quarter from $5.73 billion to $5.31 billion for Q4 and declined 3% for the whole year.

Alphabet revenue in the final three months of past year hit almost $57 billion, compared with $46 billion in the same period in 2019, according to the internet titan. The corporate reported $22.30 in per-share earnings on complete income of $56.9 billion, marking 45.3% and 23.5% progress, respectively.

Cloud sales, also benefiting from the pandemic, were $3.83 billion, or $13.1 billion for the full year, up 46% from 2019.

The revenue from YouTube in Q4 2020 was $6.9 billion. Google Cloud working losses elevated barely nonetheless to a lack of $1.24 billion, whereas Google Providers working earnings grew 41.4% from the prior-year quarter.

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"We will continue to make disciplined investments" in cloud, he said. Analysts forecast a profit of $15.93 a share and revenue of $53.1 billion.

"After a substantial pullback at the outset of the pandemic, brand spending began to recover in the third quarter", said Chief Business Officer Philip Schindler. That's something of a surprise given how profitable AWS is for Amazon. Pichai alluded to a relatively fixed cost structure for cloud as well as the need to invest ahead of demand but cited a "favorable" trend toward companies undergoing digital transformations going forward. That sets up the shares to hit a new all-time high during Wednesday's regular session.

Investors hailed the news by driving up Alphabet's stock price by more than 7 percent in extended trading. In contrast, in the last quarter of 2020, YouTube ads' revenue jumped 46% year-on-year to $6.89 billion. That resulted in a 42.7% gain in earnings. That is more in line with the industry's annual growth during the past decade, except a year ago when digital ad spending rose by just 8 percent because of the recession triggered by the pandemic. Rising costs, increased competition and a line of regulatory battles are among big concerns for Alphabet investors. "Google's products and support have been a lifeline for millions of small medium businesses hit hard by the pandemic", Chief Executive Sundar Pichai told analysts on a conference call. "With this change in consumer behavior likely to remain permanent, and Amazon's accelerating shipping and fulfillment speeds, the company's dominance as the go-to platform for e-commerce will remain unchallenged", he said.

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