Google’s Q4 revenues at $76 bn; YouTube’s ad sales slide 8% to $7.9 bn

Alphabet has reported a fourth consecutive fall in quarterly profit as the Google parent company has announced financial results for the quarter and fiscal year ending December 31, 2022.

While YouTube’s ad sales has come down by 8% to $7.9 billion, revenue from Google Cloud has increased 32% to $7.3 billion from $5.5 billion the previous year.
Sundar Pichai, CEO of Alphabet and Google, said: “Our long-term investments in deep computer science make us extremely well-positioned as AI reaches an inflection point, and I’m excited by the AI-driven leaps we’re about to unveil in Search and beyond. There’s also great momentum in Cloud, YouTube subscriptions, and our Pixel devices. We’re on an important journey to re-engineer our cost structure in a durable way and to build financially sustainable, vibrant, growing businesses across Alphabet.”

Ruth Porat, CFO of Alphabet and Google, said: “Our Q4 consolidated revenues were $76 billion, up 1% year over year, or up 7% in constant currency, and $283 billion for the full year 2022, up 10%, or up 14% in constant currency. We have significant work underway to improve all aspects of our cost structure, in support of our investments in our highest growth priorities to deliver long-term, profitable growth.”

The company’s subscription is growing. YouTube Music and Premium has crossed 80 million subscribers, said Pichai.

Google’s ad revenue, which comprises of YouTube ads, Google Search, and Google Network, has been pegged at $59 billion in the fourth quarter, as against $61.2 billion in the previous year period.


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