THE world’s emergence from the coronavirus pandemic is set to unleash a wave of spending by older consumers, with increasing opportunities for investors in aging-linked stocks.
BBC News
Published
image copyrightGetty Images
Google parent Alphabet saw record revenues for the second straight quarter despite the pandemic as advertisers unleashed spending during the holidays.
Cutbacks by travel and entertainment advertisers were more than offset by new spending from online retail clients and others during lockdown.
Google s advertising business, including YouTube, accounted for 81% of Alphabet s $56.9bn in fourth-quarter sales, up 23% compared with a year ago.
The Cloud unit also saw strong growth.
Google Cloud sales were $3.83bn, or $13.1bn for the full year, up 46% from 2019. In a new disclosure, Alphabet said Google Cloud posted an operating loss of $1.24bn in the fourth quarter and $5.6bn for 2020, a 21% wider loss than in 2019.
Google parent Alphabet spikes 6% after smashing 4th-quarter expectations on digital ad sales during the holiday shopping quarter snagarajan@businessinsider.com (Shalini Nagarajan)
Google parent Alphabet rose 6% after posting strong Q4 earnings that beat Wall Street expectations.
The company s fourth-quarter revenue rose 23% to $46.43 million, driven by strong advertising growth.
Alphabet revealed results from Google s Cloud business for the first time ever.
.
Fourth-quarter revenue rose to $46.43 billion, up 23% from a year ago. Analysts, on average, expected revenue of $44.14 billion.
YouTube delivered a 47% jump in advertising growth from last year, bringing in revenue of $6.89 billion, compared to analyst expectations of $6.22 billion. For the first time this quarter, the company provided a look at how its Cloud division is faring, showing that the business brought in $3.83 billion, again handily beating estimates.
Q4 earnings that beat Wall Street expectations.
The company s fourth-quarter revenue rose 23% to $46.43 million, driven by strong advertising growth.
Alphabet revealed results from Google s Cloud business for the first time ever.
Fourth-quarter revenue rose to $46.43 billion, up 23% from a year ago. Analysts, on average, expected revenue of $44.14 billion.
YouTube delivered a 47% jump in advertising growth from last year, bringing in revenue of $6.89 billion, compared to analyst expectations of $6.22 billion. For the first time this quarter, the company provided a look at how its Cloud division is faring, showing that the business brought in $3.83 billion, again handily beating estimates.
Advertisement
Read More: