Google owner’s profit grows 20% in 2020

Gain jumped almost 70% in the last quarter of the year, compared to the same period of 2019, pulled by record revenue.

Alphabet, owner of Google, posted a net profit of $ 41.22 billion in 2020, an increase of 20.43% over the previous year.

In the last quarter alone, gains jumped 68.9% compared to the same period in 2019, reaching US $ 15.65 billion. The result was above the US $ 11.87 billion estimated by analysts.

In the same period, the company’s revenue was a record in the quarter, reaching US $ 56.9 billion. The amount represents an increase of 23.7% in the annual comparison.

Facebook has 53% higher profit in the 4th quarter

In the disclosure of the figures, the financial director Ruth Porat affirms that the result was driven by search and YouTube revenues, “with the recovery of consumption and commercial activities”.

Google’s ad revenue rose 21.8% to $ 46.2 billion, while advertising on YouTube totaled $ 6.9 billion, up 46%.

The cloud data storage service Google Cloud posted revenue of $ 3.8 billion, up 46.5%. The final result of the segment, however, showed a loss of US $ 1.24 billion, 4.1% above the US $ 1.19 billion reported in the fourth quarter of 2019.