Alphabet today announced Q4 2020 earnings with $56.9 billion in revenue. These numbers range from October to December, and include the holiday season.
Revenue is up 23% from $46.075 billion in Q4 2019, with operating income at $15.65 billion and net income is $15.2 billion for this quarter. For comparison, Alphabet reported $46.2 billion in revenue and $11.2 billion in net income last quarter. The stock peaked at around 7.8% in after-hours trading.
Sundar Pichai, CEO of Google and Alphabet, said: “Our strong results this quarter reflect the helpfulness of our products and services to people and businesses, as well as the accelerating transition to online services and the cloud. Google succeeds when we help our customers and partners succeed, and we see significant opportunities to forge meaningful partnerships as businesses increasingly look to a digital future.”
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. Google Cloud revenues were $13.1 billion for 2020, with significant ongoing momentum, and we remain focused on delivering value across the growth opportunities we see.”
YouTube ad revenue was $6.89 billion, while Cloud reported $3.83 billion in Q4 2020.
“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $6.67 billion, compared to $5.26 billion the same quarter last year.
The closely-watched “Other Bets” continues to lose money. It reported $196 million revenue primarily generated by Verily and Fiber from $178 million last quarter. However, it lost $1.14 billion compared to $2.03 billion in Q4 2019. Alphabet last month announced that it was shutting down Loon given the lack of a “long-term, sustainable business” for internet balloons.
As usual, Alphabet will hold its Q4 2020 earnings call with investors and members of the press to further break down numbers from the earnings release. You can follow along via the livestream below and we’ll have coverage of any notable tidbits the company reveals.
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