Google parent Alphabet handily topped fourth-quarter forecasts, with Google Search and YouTube driving up total revenue for the internet giant.
Wall Street analysts had expected earnings of $15.90 per share on revenue of $53.1 billion. The company reported $22.30 in per-share earnings on total revenue of $56.9 billion, marking a
“Our strong fourth quarter performance, with revenues of $56.9 billion, was driven by Search and YouTube, as consumer and business activity recovered from earlier in the year,” said Google and Alphabet CFO Ruth Porat in the company’s earnings report. “Google Cloud revenues were $13.1 billion for 2020, with significant ongoing momentum, and we remain focused on delivering value across the growth opportunities we see.”
More to come…