Google parent Alphabet nearly doubles annual profit | The Guardian Nigeria News

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Google’s parent firm Alphabet announced quarterly profits Tuesday that beat expectations and nearly doubled in 2021 — after a booming holiday season for the online ads giant facing anti-trust regulation scrutiny.

The tech giant had net income of $20.6 billion on revenue that grew 32 percent to $75 billion in the final quarter of 2021, ending the year with a total of $76 billion in profit.

That was nearly double the $40 billion annual profit reported for 2020, as the pandemic had already accelerated a shift to online shopping, working and learning that also benefited fellow giants like Amazon and Facebook.

Alphabet CEO Sundar Pichai cited “strong growth in our advertising business… a quarterly sales record for our Pixel phones despite supply constraints, and our cloud business continuing to grow strongly” for the success.

In all, Google earned more than $61 billion in advertising revenue, mostly from online search and its video platform, while its cloud business grew by…



Source: Guardian Newspaper