Google beats expectations in new Q4 2021 financial report
Alphabet, the parent company of Google, shared its latest fourth-quarter earnings report. Alphabet managed to earn $75.3 billion in revenue, which is a 32% increase compared to the same quarter in 2020. The numbers range from October to December 2021, and the company managed to beat expectations and some projections. We have also covered the Q3 2021 earnings.
The report shows that Alphabet earned $257.6 billion, which is a 41% increase year-over-year compared to the $182.5 billion earned back in 2020. The increased revenue was thanks to advertisers spending more money, and consumers spending more time online. Google Cloud also managed to grow a substantial amount, resulting in higher revenues than expected.
“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.” - Sundar Pichai – CEO of Alphabet and Google.
Google hardware business is doing great, and the company managed to report sales records for the Pixel phones. Supply chain issues and shortages also affected Google, but it appears that the company managed to overcome the difficulties and meet the demand.
Alphabet also shared that Google Search advertisements were up to $43.3 billion, compared to $31.9 billion in 2020. YouTube ads also contributed $8.6 billion, which is slightly higher than the $6.8 billion made in 2020. “Google other revenues”, which includes the hardware division, Google Play Store, reported $8.1 billion, compared to $6.6 billion made in the same fiscal quarter a year before.
As always, Alphabet breaks down these numbers even more, and shares more details about their investments, projections, and earnings. You can watch the livestream below for more information if you're interested.
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