Google breaks through the threshold of $2.000 per share, hitting a new all-time high. Driven by record quarterly released yesterday evening, Alphabet stock (the parent company of Google) started trading on the Nasdaq reaching a new all-time high of $2.093 and is currently up 7,6% to $2.073. Since February 2020, the increase is 37,5%.
New York investors are rewarding the results of the Mountain View giant which in the last quarter of 2020 recorded revenue up 23% compared to 46,075 billion in the fourth quarter of 2019. In 2020 as a whole, revenues amounted to 182,527 billion, up by 18,8% compared to 161,857 billion in 2019. Adjusted profit was also up sharply, reaching 22,30 $.15,90 a share versus expectations of $28. In the fourth quarter, operating profit grew by 15,651% to 11,9 billion, against expectations for XNUMX billion, with the net profit up from 10,67 to 15,35 billion.
For the first time, the company has also revealed the details of its costs cloud division: despite having recorded revenues of 3,8 billion dollars, in line with expectations, it lost 1,24 billion in the quarter; in the year, revenues were 13,1 billion, with losses of 5,61 billion, a sign that the sector is still in the investment phase.
Moving on to dealer, the industry brought Mountain View revenues of $46,2 billion in the fourth quarter, up nearly 22% from a year earlier, against expectations for $42,3 billion. The ads on YouTube, which brought in $6,89 billion in the fourth quarter, showed a 46% increase from last year's fourth quarter, when it brought in $4,72 billion to Alphabet. The revenue from Search Engine (and the ads advertisers buy from you) were up 17% to $31,9 billion in the quarter.
Sundar Pichai, chief executive officer of Alphabet and Google, said: "Our strong results in the quarter reflect the usefulness of our products and services to people and businesses, as well as the accelerated transition to online services and the cloud."
