Google's strong fourth quarter pushes Alphabet shares higher

Alphabet presents Google Cloud sales for the first time and it's not great

Google's strong fourth quarter pushes Alphabet shares higher

Fourth-quarter revenue, excluding payments to distribution partners, came in at $46.43 billion USA, the Mountain View, California-based company said in a written statement.

Philipp Schindler, Google's chief business officer, said in a call: "YouTube continues, in our view, to be incredible for brand advertisers".

Alphabet Inc. reported quarterly sales that beat Wall Street estimates, buoyed by heavy digital advertising spending during the holiday shopping quarter.

YouTube ads brought in $6.89 billion in Q4, a 46 per cent jump from the same quarter previous year.

Alphabet brought in $46.43 billion in revenue for the quarter when deducting traffic acquisition costs, up from $37.57 billion a year ago.

San Francisco: Alphabet, the parent company of Google, has reported strong fourth-quarter earnings at $56.9 billion riding on its Search and YouTube growth, and disclosed numbers for its cloud business for the first time. Analysts had expected $44.2 billion US, according to data compiled by Bloomberg Markets. For the full year 2020, Alphabet reported $41.2 billion on revenues of $182.5 billion. Analysts expected Google to benefit from increased online search activity and YouTube viewership while people remained stuck at home. "Google other revenues" - which includes hardware, Play Store, and non-advertising YouTube revenues - reported $6.67 billion, compared to $5.26 billion the same quarter past year.

Looking at the bottom line for the fourth quarter, Alphabet made $15.23 billion during the 2020 period compared to the $10.67 billion the company earned in 2019's Q4. That resulted in a 42.7% achieve in earnings.

Google continues to tend to its Money Tree. However, sales and marketing expenses declined almost 8% for the fourth quarter from $5.73 billion to $5.31 billion for Q4 and declined 3% for the whole year.

USA tech giants Amazon and Google parent Alphabet released quarterly earnings on Tuesday.

"The tech rally is giving the broader market a much-needed boost and Wall Street could soon hit new record highs", he said. Shares of Alphabet, which rose $26.16 or 1.38% to $1,927.51 during the regular trading session, soared 7.66% in after-hours trading after the earnings report was released. During the later buying and selling interval, Alphabet was altering fingers at $2075.16, up $147.65.

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