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Alphabet Results Beat in Q4 as YouTube, Search Rakes in Ad-Revenue

Published 02/03/2021, 05:06 AM
© Reuters.
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By Yasin Ebrahim

Investing.com - Alphabet A (NASDAQ:GOOGL) reported on Tuesday fourth-quarter earnings and revenue that beat analysts' forecasts as its YouTube and Search businesses raked in advertising revenue.

Alphabet A announced earnings per share of $22.3 on revenue of $56.90B. Analysts polled by Investing.com anticipated EPS of $15.68 on revenue of $52.89B.

Alphabet A shares are up 9% from the beginning of the year, still down 1.57% from its 52 week high of $1,948.23 set on February 2. They are outperforming the Nasdaq which is up 5.62% from the start of the year.

The beat was led by strong ad revenue that boosted performance across its biggest businesses including Google Search & other, and Youtube, up 17.4% and 46% respectively.

While Google Cloud was up 46.6% to $3.83 billion.

“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," the company said.

"A stay-at-home holiday shopping season and a continuing ad rebound from the beginning of the pandemic should help Google to post a strong fourth quarter. The environment has also become quite conducive for YouTube, the fastest-growing part of Google’s ad business, as people are spending more time watching the channel during the pandemic, fuelling growth in direct-response ads," Investing.com analyst Haris Anwar said.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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