Buoyed by strong ad revenues, Alphabet’s Q4 2020 revenues up 23%
Alphabet, the parent company of Google, has reported $56.9 billion in revenue in Q4 of 2020, a growth of 23% from $46.075 billion in Q4 2019. Alphabet beats analysts estimates as it reported strong growth in its core advertising business.
Operating income was reported at $15.65 billion, while net income stood at $15.2 billion in Q4 of 2020, compared to net income of $11.2 billion in net income in the last quarter.
Ad revenue for YouTube grew 47 per cent to $6.89 billion in Q4 of 2020, as against $6.11 billion in Q4 of 2019.
Meanwhile, Google’s Cloud business reported $3.83 billion in Q4 2020.
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.”