Alphabet, Google’s parent company recently reported record 2021 fiscal year results. The technology conglomerate made the most revenue ever since its existence. This is despite the chip storage and supply challenges from the ongoing global pandemic.
Its full 2021 year revenue stands at $257 billion, increasing 41% year on year. While it’s fourth-quarter increased significantly by 32% from its previous quarter to $75 billion. The company attributes its huge success to sales of its Pixel phones and its growth in its cloud business.
During Alphabet’s earnings call, CEO Sundar Pichai gave the exact drivers of growth in a statement. “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,” he said.
For its balance sheet, the company listed out these segments and their respective revenue for the fourth quarter. There is the “Services” segment which includes YouTube and Search both performing exceptionally well.
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Its product line which includes the Pixel phones, Android operating systems and smart home products were listed under “Google other” under “Google Services.” The underlying segment brought in a whopping $8.16 billion for the fourth quarter.
While YouTube under its “Services” segment brought in $8.63 billion in revenue from ads for the fourth quarter. Google in particular made just $61.24 billion for the last quarter. This would have been larger if not for Apple hurting its business. Apple made privacy changes in iOS, allowing users to off apps tracking them across the internet.
According to the Financial Times, the host of YouTube, Meta, Snapchat, and Twitter lost as much as $10 billion last year because of the new iOS settings. Google in particular has been increasing its annual revenue for the past 10 years consecutively.
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