Alphabet posts $56.9b in revenue for Q4 2020
Operating income stood at $15.65 billion and net income at $15.2 billion for this quarter
Google parent Alphabet Inc posted Q4 2020 earnings with $56.9 billion in revenue. Operating income stood at $15.65 billion and net income at $15.2 billion for this quarter. The company reported $46.2 billion in revenue and $11.2 billion in net income in the last quarter. The leap in its digital ad and Cloud business is attributed, in part, to the pandemic. The company said that it will resume spending big on hiring and facility construction.
Sundar Pichai, CEO of Google and Alphabet, said: “Our strong results this quarter reflect the helpfulness of our products and services to people and businesses, as well as the accelerating transition to online services and the cloud. Google succeeds when we help our customers and partners succeed, and we see significant opportunities to forge meaningful partnerships as businesses increasingly look to a digital future.”
Ruth Porat, CFO of Google and Alphabet, said: “Our strong fourth-quarter performance, with revenues of $56.9 billion, was driven by Search and YouTube, as consumer and business activity recovered from earlier in the year. Google Cloud revenues were $13.1 billion for 2020, with significant ongoing momentum, and we remain focused on delivering value across the growth opportunities we see.”
