Google’s Parent Company Alphabet Surpassed Expectations

<div><img width="1200" height="800" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/01/shutterstock_1134005837-1-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Google’s parent company" loading="lazy" srcset="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/01/shutterstock_1134005837-1-1.jpg 1200w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/01/shutterstock_1134005837-1-1-300×200.jpg 300w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/01/shutterstock_1134005837-1-1-1024×683.jpg 1024w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/01/shutterstock_1134005837-1-1-768×512.jpg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></div><h1><span>Google’s Parent Company Alphabet Surpassed Expectations</span></h1>
<p><span>Alphabet continues to reach excellent results. Google’s parent <a href="https://www.financebrokerage.com/investors-are-monitoring-tech-companies-and-their-results/" target="_blank" rel="noopener">company</a> reported better-than-expected fourth-quarter earnings as well as revenues. It also announced a 20-for-1 stock split that will become effective in July.</span></p>
<p><span>The tech giant reported revenue growth of 32%, proving again that Alphabet was able to withstand the pressures from Covid-19 and inflation.</span></p>
<p><span>The results reported by Alphabet follow a year of outperformance. In 2021, the stock jumped 65%, beating all other <a href="https://www.financebrokerage.com/tech-giants-acquired-numerous-companies-in-2021/" target="_blank" rel="noopener">tech giants</a> and more than tripling gains in the S&amp;P 500. </span></p>
<p><span>Google’s advertising revenue reached 61.24 billion, up 33% from $46.2 billion in the same period a year earlier. </span></p>
<p><span>According to Google’s chief business officer Philipp Schindler, retail was the largest contributor to year-over-year ad growth. Media, as well as finance spending, was also significant. </span></p>
<h2><span>Alphabet and its results </span></h2>
<p><span>However, YouTube’s ad revenue was the only metric short of analysts’ expectations. YouTube is trying to challenge TikTok with a service called Shorts. </span></p>
<p><span>Its cloud reported revenue growth of 45% to $5.54 billion. Notably, operating loss in the cloud came in at $890 million during the quarter, which narrowed from the $1.14 billion loss a year ago. Nevertheless, it expanded from the third quarter, when cloud lost $644 million.</span></p>
<p><span>According to Alphabet’s CEO Sundar Pichai, Alphabet’s backlog rose more than 70% to 51 billion. Pichai noted that Alphabet saw 65% year-over-year growth in the number of cloud deals worth more than $1 billion. </span></p>
<p><span>Moreover, revenue for the company’s Other Bets umbrella came in at $181 million – down slightly from a year ago.</span></p>
<p><span>Google’s other revenue segment reached $8.16 billion in sales, up from $6.67 billion the year prior. Despite supply chain constraints, Sundar Pichai said the company saw an “all-times sales record” for its Pixel smartphone. </span></p>
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