Google parent company Alphabet has released its fourth quarter and fiscal year 2020 results and the numbers are staggering. The company made $56.9 billion in the quarter that ended on December 31st, which is a 23 percent increase over the $46.1 billion it recorded last year. Chief financial officer Ruth Porat said in a statement that the revenue was “driven by Search and YouTube, as consumer and business activity recovered from earlier in the year.”
This continues a trend of revenue growth that we saw last quarter, when Alphabet reported earning $46.2 billion compared to the $40.5 billion from the same period in 2019. Of this quarter’s $56.9 billion made, $52.9 billion came from Google Services, $3.8 billion from Google Cloud while $196 million was made from the Other Bets division. In total, Alphabet made $182.5 billion in 2020.
This article is auto-generated by Algorithm Source: www.engadget.com
