Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) reported fourth-quarter financial results Wednesday after market close.
Here are the key highlights.
Alphabet Q1 Earnings
Alphabet reported fourth-quarter revenue of $113.83 billion. The revenue total beat a Street consensus estimate of $111.31 billion according to data from Benzinga Pro.
Total revenue was up 18% on a year-over-year basis, driven by double-digit growth across all segments. Here’s a breakdown of revenue by category.
- Google Search: $63.07 billion, up from $54.03 billion year-over-year
- YouTube Advertising: $11.38 billion, up from $10.47 billion year-over-year
- Google Network: $7.83 billion, down from $7.95 billion year-over-year
Overall Google Advertising segment revenue was $82.28 billion, up from $72.46 billion year-over-year.
The company also reported the following segment:
- Google Cloud: $17.66 billion, up from $11.96 billion year-over-year
- Google Subscriptions, Platforms, Devices: $13.58 billion, up from $11.63 …