The parent company of Google has reported strong financial results for the fourth quarter and the fiscal year 2021 that ended 31 December 2021. According to the report Alphabet’s revenues grew up 32% year over year, reaching $75 billion. The majority of the growth was driven by advertiser spending, strong consumer activity, and Google Cloud.
Google Services are improving their popularity
The revenue in Q4 2021 was increased by 32%, from $56,898 million to $75,325 million year-over-year. The net income was also increased from $15,227 million to $20,642 million year-over-year. The most revenue came from Google Search; bringing $43,301 million to the tech giant during the quarter. Alphabet has earned a total of $69,400 million from Google Services. Google’s popular services Google Cloud has managed to increase its revenue from $3,831 million to $5,541 million year-over-year in the quarter.
Looking at the yearly results, the revenue was increased by 41%, growing from $182,527 million to $257,638 million compared to 2020 results. Net income was also increased from $40,269 million to $76,033 million in the same time scope. The effects of the pandemic positively affected Alphabet’s financial results; the global crisis has forced companies to transition to the cloud and other online services which Google provides. Sundar Pichai, CEO of Alphabet and Google said;
« 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. »