Google has announced very impressive financial results for the quarter and fiscal year ended December 31, 2021, in large part due to monstrous advertising sales.
In Q4 2021, Google posted better than expected results pulling in $US75.33 billion ($A105 billion) in revenue, a 32 per cent increase year over year.
Though, particularly pertinent for those in adland, Google advertising pulled in $US61.24 billion ($A85.84 billion) in sales, which represented a 33 per cent year over year growth rate.
Sundar Pichai (Pictured above), CEO, Alphabet and Google, said, “Our deep investment in AI technologies continues to drive extraordinary and helpful experiences for people and businesses, across our most important products.”
“Q4 saw ongoing strong growth in our advertising business, which helped millions of businesses thrive and find new customers.”
Ruth Porat, CFO, Alphabet and Google, added, “Our fourth-quarter revenues reflected broad-based strength in advertiser spend and strong consumer online activity.”
“Our investments have helped us drive this growth by delivering the services that people, our partners and businesses need and we continue to invest in long-term opportunities.”
It’s also notable that APAC revenues grew year over year from $US9.9 billion ($A13.86 billion) to $US12.7 billion ($A17.8 billion).
However, possibly the biggest news to come out of the announcement was the company’s move to have a 20 for 1 stock split that will go into effect in July.
