Google parent Alphabet reported better-than-expected Q4 2021 figures
Alphabet announced earnings per share of $30.69 compared to the $27.34 expected. Revenue came in at $75.33 billion, significantly higher than the $72.17 billion anticipated, marking a 32% increase from the year-ago period, proving it was able to face the pressure from pandemic and inflation.
Google’s advertising revenue came in at $61.24 billion, 33% higher than the $46.2 billion reported in the same period a year earlier. According to Philipp Schindler, Google’s Chief Business Officer said that retail drove higher the year-over-year ad growth.
Despite the figures being higher than forecasted, YouTube ad revenue was the one that fell short of the $8.87 billion mark. The company has been trying to compete with TikTok with Shorts, with more than 15 billion daily active users globally. The numbers are unchanged from the July 2021 update.
For 2021, Alphabet’s sales rose 41% to $258 billion, marking a new record for the company, bouncing back from the 13% growth reported in 2020 – the slowest rate in more than a decade.
Along with the quarterly earnings, Alphabet announced a 20-for-1 stock split that will take effect in July.
The company’s results follow a year of outperformance. Last year, the stock jumped 65%, topping all the other Big Tech companies and more than tripling gains of the S&P 500.
At the moment of writing, Alphabet’s (GOOG) stock price was trading 10.51% higher.
Sources: cnbc.com, finance.yahoo.com
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of sc.capex.com