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Wednesday, June 19, 2024

Alphabet’s earnings grew by 36% in the fourth quarter, reaching $20.64 billion

In today’s world, there may be a great deal of uncertainty surrounding Alphabet, the parent company of Google: a global pandemic, fears of inflation gripping the United States financial system, disgruntled employees making administration difficult, and regulators and politicians seemingly intent on getting their pound of flesh

One component, on the other hand, has not changed. Alphabet has continued to produce profits in recent years. There was a lot of it.

Google’s parent company, Alphabet, announced a 36 percent increase in sales, to $20.64 billion, in the last three months of 2021, on profits of $75.32 billion, a 32 percent increase over the same period the previous year. According to information provided by FactSet, the results were higher than experts’ expectations of $19 billion in sales and $72.3 billion in profitability.

The positive results serve as a reminder of the fundamental strength of Google’s business and the fact that, regardless of the conditions around it, the company will continue to grow as long as people are actively engaged on the internet.

Google search continues to be the most common way to access the internet. YouTube is a significant on-line destination for entertainment, information, and music. Whereas Amazon and Microsoft are trailing behind, Google is well-positioned to benefit from the seismic shift in which enterprises are outsourcing expertise infrastructure to the cloud.

Google has made minor adjustments to its business model in order to strengthen its position.

It has made tweaks to the way it allows businesses to list items in an attempt to persuade more people to begin shopping searches on Google or YouTube, according to the company. According to a recent poll conducted by Morgan Stanley, the number of people who begin their shopping searches on Google and YouTube has increased since last May, whilst the proportion of Amazon Prime users who begin their searches on Amazon has fallen.

YouTube has created quick — less than 60-second — videos to compete with TikTok and appeal to a younger audience, according to the company. According to Google Cloud, they are continuing to hire more sales representatives as part of their effort to expand into new sectors and develop new collaborations.

Jonathan James
Jonathan James
I serve as a Senior Executive Journalist of The National Era
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