Alphabet yearly revenue hits $258bn

Google-owner Alphabet has reported a 41 per cent increase in revenues for 2021 in comparison to the previous year.

The technology giant made $257.6 billion over the 12-month period versus $182.5 billion in 2020.

In the final quarter of the year, revenues were up by 32 per cent from $56.8 billion to $75.3 billion.

“Our fourth quarter revenues of $75 billion, up 32 per cent year over year, reflected broad-based strength in advertiser spend and strong consumer online activity, as well as substantial ongoing revenue growth from Google Cloud,” said Ruth Porat, chief financial officer. “Our investments have helped us drive this growth by delivering the services that people, our partners and businesses need, and we continue to invest in long-term opportunities

In the final months of the year, Google services made up $69.4 billion of the total revenue, with ads bringing in $61.2 billion. YouTube ads brought in $8.6 billion during the same period.

“Our deep investment in AI technologies continues to drive extraordinary and helpful experiences for people and businesses, across our most important products,” said Sundar Pichai, chief executive of Alphabet and Google. “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.”

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