Google-parent company Alphabet announced released its fourth-quarter 2017 earnings report on Thursday evening.
The company generated $32.3 billion USD during Q4 2017, totalling $110.9 billion in 2017. The figure represents a 24 percent increase over Q3 2017, and a 23 percent increase compared to 2016.
“Our full year operating income growth continues to underscore our core strength, and on top of this, we continue to make substantial investments for the long-term in exciting new businesses,” said Ruth Porat, Alphabet’s chief financial officer, in a February 1st, 2018 media release.
Google — the company responsible for the bulk of Alphabet’s earnings — generated $22.2 billion in property revenue, while Google’s advertising revenues topped $27.2 billion USD.
Alphabet’s stock dropped five percent when market’s closed on Thursday, sitting at $1,181.59 USD.