Google’s parent company Alphabet has reported US$75.33 billion in revenue for the fourth quarter, helped by strong growth in its ad business.
The tech giant was up 32% in revenue for the period. Google Search & Other represented US$43.3 billion in revenues, up from US$31.9 billion the same time last year.
YouTube ads reported US$8.63 billion, up from $US6.89 billion the year prior.
In total, Google advertising reached US$61.24 billion, up 32% from US$46.2 billion in the same quarter last year.
Google CEO Sundar Pichai says the growth in revenues, which beat expectations, were boosted by AI investments and ad growth.
“Our deep investment in AI technologies continues to drive extraordinary and helpful experiences for people and businesses, across our most important products,” Pichai says.
“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.”
APAC revenues for the company was US$12.73 billion, up from US$9.91 billion the same time last year.
“Our fourth quarter revenues of $75 billion, up 32% 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,” says Alphabet chief financial officer Ruth Porat.
“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.”
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