Google has reported revenue of US$56.9 billion for the final quarter of last year.
The result for the tech giant is a 23% increase from the year prior.
Google Service reported US$52.9 billion in revenue, with Google Cloud reporting US$3.8 billion in revenue for the fourth quarter. For the year, Google reported a total of US$182.5 billion, up from $161.9 billion the previous year.
Chief financial officer Ruth Porat said the growth was driven by Search and YouTube.
“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,” Porat says.
“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.”
YouTube ads made US$6.9 billion in the fourth quarter for Google, up from US$4.7 billion the previous year, while Googe advertising made up US$46.2 billion, up from US$38 billion the year prior.
“Our strong results this quarter reflect the helpfulness of our products and services to people and businesses, as well as the accelerating transition to online services and the cloud,” says Google and Alphabet CEO Sundar Pichai.
“Google succeeds when we help our customers and partners succeed, and we see significant opportunities to forge meaningful partnerships as businesses increasingly look to a digital future.”
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