Daily Management Review

Alphabet's net profit jumps 1.8 times in 2021


American holding company Alphabet Inc, which owns Google, increased net profit by 1.8 times in 2021 compared to the previous year - up to 76.033 billion dollars, the holding company said in a release.

The Pancake of Heaven!
The Pancake of Heaven!
Diluted earnings per class A, B and C shares were $112.2 at the end of the reporting period, compared with $58.61 a year earlier. The company's revenues increased 1.4 times year-on-year to $257.637 billion.

Alphabet posted a 35.5% year-on-year increase in net profit to $20.642 billion for the fourth quarter. Diluted earnings per A, B and C share were $30.69, compared to $22.3 in the same period in 2020. Alphabet's quarterly revenue rose 32% to $75.325 billion.

"Our fourth-quarter revenue ... reflects broad-based growth in advertiser spending and strong consumer online activity, as well as continued revenue growth from Google Cloud," Alphabet and Google CFO Ruth Porat said in a statement.

Alphabet's shares jumped 7.4 percent after the close of principal trading.

source: bloomberg.com