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Alphabet revenue increases 23% YoY, Google Cloud posts over a billion in operating loss

Google’s parent company, Alphabet posted revenues of $56.9 billion for the quarter ended December 31, 2020, an increase of 23% YoY, driven by Google Search and YouTube owing to recovery in consumer and business activity from earlier in the year.

  • Revenues for the full year 2020 increased 12.7% to $182.5 billion
  • Operating income for FY20 increased 28% to $15.6 billion

Alphabet separated out Google Cloud revenue for the first time; the segment posted an operating loss of $1.2 billion for the quarter, an increase of 4% YoY. Losses in Cloud. which makes money from fees for Google Cloud Platform services and from G Suite,  for FY20 amounted to $5.6 billion, increasing 21% from 2019. But Cloud is growing fast, with revenue increasing 47% YoY in this quarter to $3.8 billion. Revenue for the full year stood at $13 billion, also an increase of 46% over 2019.

While the bulk, about 92-93%, Google’s revenue comes from Services, which includes products and services such as ads, app sales, hardware, paid YouTube services, the company has been trying to diversify revenue through bets on hardware, cloud computing, and other projects such as Verily. Cloud was expected to be a promising segment, particularly with the pandemic.

Google Services earned $52.8 billion revenue in Q4 2020, up 22% YoY and 24% QoQ. Advertising forms the bulk of this segment, it recorded $46.1 billion, which came from: 

  • Search: $31.9 billion
  • YouTube ads: $6.8 billion 
  • Google members’ properties: $7.4 billion 
  • Other: $6.6 billion 

Other Bets and TAC

  • Other bets: 196 million, up 14% YoY and 10% QoQ 
  • Total Traffic Acquisition Costs: $10.4 billion

Operating income for Services jumps 42% YoY

Operating income for Q4 2020: 

  • Services: $19 billion, up 42% YoY and 32% QoQ 
  • Cloud: Loss of $1.2 billion, up 4% YoY and 3% QoQ 
  • Other Bets: Loss of $1.1 billion, up 3.3% YoY and up 12% QoQ 

Revenue split across the world

GAAP revenues by geography 

  • US: $26.7 billion, up 23% YoY and 25% QoQ 
  • EMEA: $17.2 billion, up 22% YoY and 24% QoQ
  • APAC: $9.9 billion, up 32% YoY and 17% QoQ 
  • Other Americas: $3 billion, up 14% YoY and 27% QoQ 

Press Release

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