Google's parent company Alphabet (NASDAQ: GOOGL) has released its fourth-quarter financial results on Tuesday after the market close. The internet search leader reported $46.2 billion in revenue and $11.2 billion in net income in the last quarter. Alphabet shares jumped more than 7% to $2,066 in the extended trading session and climbed to above $2000 mark for the first time.
- Earnings per share (EPS) $22.30 vs. $15.90 expected
- Revenue $56.9 Billion vs. $53 Billion expected
The strong results boosted by the increase in teleworking and life in the computing cloud due to the coronavirus. Cloud sales were $13.1 billion for the full year, up 46% from 2019. Recently Google has announced an important agreement with Ford for the cars of this manufacturer to use Google Cloud as a method to interconnect.
On the other hand, Google collected $ 46 billion in advertising revenue compare to $ 37.93 billion in Q4 2019, including nearly $ 6.9 billion generated on the YouTube advertising revenue.
Alphabet shares have climbed almost 10% since the beginning of the year and the stock has risen over 80% since March 2020 low.
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