Google’s parent company Alphabet hit a new yearly record revenue in 2021. The company announced a revenue of $257 billion in 2021, a 41 percent year-over-year jump. It also reported a $75.3 billion revenue in the fourth quarter of 2021, up 32 percent from the year earlier.
The advertising revenue of the fourth quarter was $61.24 Billion. YouTube ads also contributed good and Alphabet earned $8.63 billion in revenue from it.
“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,” Pichai, Alphabet, and Google CEO said in a statement late on Tuesday.
The company is still struggling with its Cloud business. It posted an operating loss of $890 million after revenue of $5.54 billion.
It seems Pandemic has helped Tech companies a lot. Google’s major revenue comes from advertising. Now when people consume more content on different websites and YouTube, Google is earning better than before.
Alphabet’s share also jumped more than 8% after the announcement. The company also announced a 20-for-one stock split. It will make shares affordable for smaller investors and bring more people investing in Alphabet’s stock.
