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For example, Alphabet's revenue for the quarter reached $56.9 billion, which is not only 23% higher than the previous year, but is also a new record for the company. In addition, analysts polled by Refinitiv had much more modest forecasts: they expected Alphabet's sales to reach $53.1 billion.
As a result, net income for the quarter reached $15.2bn, about 50% better than the result for the fourth quarter of 2019. Finally, revenues for the full year 2020 reached $182.5 billion, a consistent year-over-year increase. This time it grew by just over 12%, the most modest figure since 2009, i.e. since the global financial crisis.
Alphabet has revealed the performance of its cloud business for the first time. At the end of the year, Google Cloud made a loss of $5.6 billion, which is associated with multi-billion-dollar investments of the company in this business. Last year alone, the corporation opened four new data centres.
The annual growth of Google Cloud's loss ratio is related to the volume of investments. At the same time, revenue from this business is growing much more markedly: if in 2018 it was $5.8 billion, in 2020 it will already exceed $13 billion.
source: bloomberg.com
As a result, net income for the quarter reached $15.2bn, about 50% better than the result for the fourth quarter of 2019. Finally, revenues for the full year 2020 reached $182.5 billion, a consistent year-over-year increase. This time it grew by just over 12%, the most modest figure since 2009, i.e. since the global financial crisis.
Alphabet has revealed the performance of its cloud business for the first time. At the end of the year, Google Cloud made a loss of $5.6 billion, which is associated with multi-billion-dollar investments of the company in this business. Last year alone, the corporation opened four new data centres.
The annual growth of Google Cloud's loss ratio is related to the volume of investments. At the same time, revenue from this business is growing much more markedly: if in 2018 it was $5.8 billion, in 2020 it will already exceed $13 billion.
source: bloomberg.com
