The Google Owner has Significantly Increased its Quarterly Earnings And Sales
The American company Alphabet, which owns the Internet search engine Google, increased its profit by 43 percent year-on-year to $ 15.2 billion in the fourth quarter. The company announced it today. She added that her sales rose 23.5 percent to a record $ 56.9 billion.
The results exceeded the expectations of analysts, who, according to a survey by Refinitiv, expected a profit of $ 10.9 billion with sales of $ 53.1 billion. Shares of Alphabet gained almost eight percent after the publication of quarterly results.
Most of Alphabet’s revenue comes from advertising revenue. Those rose 22 percent to $ 46.2 billion in the fourth quarter. They thus accounted for more than four-fifths of the company’s total sales.
Ad revenue from YouTube’s video-sharing portal saw a significant increase, up 46 percent to $ 6.9 billion. People are spending more time watching videos online as a result of the covid-19 pandemic, the AP agency wrote.