Like most tech giants, Google’s parent company Alphabet seems to have faired very well amid the ongoing COVID-19 pandemic.
The tech giant experienced 41 percent year-over-year growth to $257 billion USD (roughly $325 billion CAD), marking the first time Alphabet has surpassed the $200 billion USD mark (about $253 billion CAD). For context, Google earned $183 billion USD (roughly $232 billion CAD) in 2020.
In the fourth quarter, specifically, Google earned $75.3 billion USD (roughly $95 billion CAD), a 32 percent increase over the same period last year.
“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,” said Alphabet and Google CEO Sundar Pichai in a press release accompanying Alphabet’s earnings report. statement.
Google doesn’t break out its consumer devices like Pixel smartphones and Nest smart home devices into their own categories in its earnings reports, instead opting to lump them into its overall revenue.
However, YouTube earned $8.63 billion USD (about $10.9 billion CAD) and Cloud took home $5.54 billion USD (roughly $7 billion CAD). Alphabet’s ‘Other Bets’ division, which includes its automotive efforts under the Waymo brand, earned $181 million USD (about $229.6 million CAD) in revenue.