© Reuters
By Yasin Ebrahim
Investing.com – Alphabet (NASDAQ:GOOGL) delivered fourth-quarter results Tuesday that beat on both the top and bottom lines as advertising and cloud revenue swelled.
Alphabet was up 7% in afterhours trading.
The Google parent announced earnings per share of $30.69 on revenue of $75.30 billion. Analysts polled by Investing.com anticipated EPS of $27.65 on revenue of $72.19 billion.
Google Advertising climbed 33% to $61.2 billion, driven by strong growth in Google search and YouTube.
Google search & other, and YouTube rose 36% and 25% respectively.
Google cloud, which includes Google’s infrastructure and platform services, collaboration tools, and other services for enterprise customers, grew 45% to $3.83 billion.
“Our fourth quarter revenues of $75 billion, up 32% year over year, reflected broad-based strength in advertiser spend and strong consumer online activity, as well as substantial ongoing revenue growth from Google Cloud,” the company said.
Google also announced a 20-for-one stock split, making it more affordable for smaller investors to buy the stock.
Source: Investing.com
