Google’s parent company Alphabet posted a 41% year-on-year rise in its annual revenue for the fiscal ended December 2021. It reported $257 billion in revenue against $182 billion posted a year ago. The pandemic added to the expansion of digital transformation across sectors.

Earnings Per Share for the full fiscal stood at $ 112.20 against $ 58.61 in the fiscal’20.

In the quarter ended December 31, 202, the Sundar Pichai-ledcompany reported a revenue of $75.3 billion, up 32 percent from $56.8 billion posted in Q4FY20 and above the figure of $72.17 billion that analysts were expecting in revenue.

The revenue and earnings for the quarter topped the estimates:

Earnings for the fourth quarter came in at $30.69 apiece as against $27.34 estimated, according to Refinitiv.
Revenue in the quarter stood at $75.33 billion against the estimate of $72.17 billion, according to Refinitiv.
YouTube advertising revenue came in at $8.63 billion, topping the forecast of $8.87 billion, according to StreetAccount.
Google Cloud revenue was $5.54 billion as against $5.47 billion expected, according to StreetAccount.
Traffic acquisition costs (TAC) concluded at $13.43 billion as against $12.84 billion expected, according to StreetAccount.
“Q4 saw ongoing strong growth in our advertising business, which helped millions of businesses thrive and find new customers, a quarterly sales record for our Pixel phones despite supply constraints, and our Cloud business continuing to grow strongly,” Pichai, Alphabet and Google CEO, said in a statement.

The better-than-expected results boosted the stock sentiment, and it soared more than 9 per cent in extended trading hours.

On Tuesday, Alphabet stock popped up on the top five trending stocks list on the Quantale dashboard as it recorded a spike in the metric of social activity.

The shares of Alphabet closed at $2960, up 7.52% from the preceding close.

As per the dashboard of Quantale, Alphabet’s market capitalization is an inch away from entering into the $2 trillion market cap companies. Its market cap as of February 1 stood at $1966.34 Billion.

Google’s advertising revenue was $61.24 billion for the quarter, up 33% from $46.2 billion a year ago.

Google cloud revenue came in at $5.54 billion, a 45 percent surge from $3.8 billion.

Operating loss in cloud clocked at $890 million during the quarter under review, shrank from $1.14 billion loss posted a year ago. However, it ballooned from the preceding quarter of FY21 when it reported a loss of $644 million.

Revenue from Other Bets unit, which includes the self-driving car unit Waymo and life sciences unit Verily, stood at $181 million, slightly below – from $196 million posted a year ago.

Google’s other revenue division, including hardware, Play Store, and non-advertising YouTube revenue, reported $8.16 billion in sales, as against $6.67 billion the year prior.

Pichai said the company clocked an “all-time sales record” for its Pixel smartphone no matter how much supply chain disruptions were.

“Our deep investment in AI technologies continues to drive extraordinary and helpful experiences for people and businesses across our most important products,” Pichai added.

The company also declared a 20-for-1 stock split that will take effect in July, following the footsteps of Tesla and Apple.

“Alphabet today announced that the Board of Directors had approved and declared a 20-for-one stock split (the “Stock Split”) in the form of a one-time special stock dividend on each share of the Company’s Class A, Class B, and Class C stock. The Stock Split is subject to stockholder approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Class A, Class B, and Class C stock to accommodate the Stock Split,” the company said in a statement.