Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) reported fourth quarter and full fiscal year earnings after market close Tuesday. Here are the key details for investors.
What Happened: Alphabet reported fourth-quarter revenue of $75.3 billion, up 32% year-over-year. The total came in ahead of a consensus estimate of $72.1 billion, according to Benzinga Pro.
Alphabet reported fourth-quarter earnings per share of $30.69, beating a consensus estimate of $27.48.
“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,” Alphabet CEO Sundar Pichai said.
The company reported search revenue of $43.3 billion. YouTube advertising revenue hit $8.6 billion in the fourth quarter. Google Network segment revenue was $9.3 billion. Google Cloud revenue was $5.5 billion for the fourth quarter.
Related Link: If You Invested $1,000 In Google When It Acquired YouTube, Here's How Much You'd Have Now
What’s Next: Along with its quarterly earnings, Alphabet announced a 20-for-1 stock split. The split will be paid as a one-time special stock dividend for the Class A, Class B and Class C shares of the company.
If the stock split is approved it will be effective with a record date of close of business on July 1, 2022. The dividend will be payable at the close of business on July 15.
Alphabet said it's continuing to invest in “long-term opportunities” for services that partners and businesses need.
The company will host a conference call at 5 p.m. EST.
Price Action: GOOG shares are up 6% to $2,930 in after-hours trading at the time of publication.
