Google’s parent company, Alphabet, posted its fourth-quarter 2020 earnings, pulling in $56.9 billion USD in revenue (roughly $72.9 billion CAD).
The Q4 2020 earnings period includes October, November and December, as well as the company’s holiday period. The revenue marks a 23 percent increase year-over-year.
Alphabet posted an operating income of $15.65 billion USD (about $20.1 billion CAD) along with a net income of $15.2 billion USD (approximately $19.5 billion CAD).
Breaking that down further, YouTube ad revenue was $6.89 billion USD ($8.83 billion CAD), with Cloud reporting $3.83 billion USD ($4.9 billion CAD).
Alphabet broke out the operating income from its cloud business for the first time, noting a loss of $5.61 billion USD over the full year, with $1.24 billion USD during Q4.
As for Google’s ‘Other Bets’ segment, it continued to lose money. For Q4, Other Bets reported $196 million USD ($251 million CAD) revenue primarily generated by Verily and Fiber, up from $178 million USD last quarter. However, Other Bets lost $1.14 billion USD ($1.46 billion CAD) in Q4.