Google announced impressive earnings last night showing their revenue was up 23% year-over-year. If you just look at the Google Search category, Google earned $31,903M in Q4 2020 compared to $27,185M in Q4 2019, that is a 17% increase. Overall revenue was up 23% with YouTube doing specifically well.
Sundar Pichai, CEO of Google and Alphabet, said: “Our strong results this quarter reflect the helpfulness of our products and services to people and businesses, as well as the accelerating transition to online services and the cloud. Google succeeds when we help our customers and partners succeed, and we see significant opportunities to forge meaningful partnerships as businesses increasingly look to a digital future.” Ruth Porat, CFO of Google and Alphabet, said: “Our strong fourth quarter performance, with revenues of $56.9 billion, was driven by Search and YouTube, as consumer and business activity recovered from earlier in the year. Google Cloud revenues were $13.1 billion for 2020, with significant ongoing momentum, and we remain focused on delivering value across the growth opportunities we see.”
Google even kept on adding employees from 118,899 to 135,301 employees as of December 31, 2020.
It is amazing how these companies are doing so well with the economy overall not doing well at all. Yes, I get Wall Street works differently.
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