Google’s parent company Alphabet reported earnings Tuesday. Revenue in Q4 2020 jumped 23.5% to $56.9 billion.
“Our strong fourth quarter performance, with revenues of $56.9 billion, was driven by Search and YouTube, as consumer and business activity recovered from earlier in the year,” stated Ruth Porat, CFO of Google and Alphabet. “Google Cloud revenues were $13.1 billion for 2020, with significant ongoing momentum, and we remain focused on delivering value across the growth opportunities we see.”
Google advertising rose from $37.9 billion to $46.2 billion, which includes a rise in YouTube ads from $4.7 billion in Q4 2019 to $6.9 billion in Q4 2020.
Google network member properties rose 22.9% to $7.41 billion. Google "other" rose 26.8% to $6.67 billion. Other Bets rose 14% to $196 million.
The company broke out income from its cloud business for the first time, stating that it lost $5.61 billion during the full year and $1.24 during Q4 2020.
Net income rose to $15.23 billion from the prior-year total of $10.7 billion. Google Cloud experienced an uptick in but operating income came in at a loss -- $1.24 billion for the quarter and losing $5.6 billion in fiscal 2020.
eMarketer Analyst Nicole Perrin said all three of Google's main lines of ad business outperformed the firm’s forecast -- including YouTube, which grew by almost 46% in Q4 compared a year earlier.
Google Network Member revenues, which were up almost 23%, and search, which was up more than 17% despite continuing low spending from travel advertisers, traditionally one of Google Search's most important segments.