Alphabet, the parent company of Google, reported spectacular revenues and earnings for the fourth quarter 2021 and plans to split shares of stock 20-for-1 in July.
The stock split applies to the company’s Class A, B and C shares and will bring the price back down into the mid-$100s based on the current trading price around $2,900.
Alphabet reported revenues of $75.3 billion in the fourth quarter, up 32% from a year ago. Revenues for 2021 were $257.6 billion, up an amazing 41% from 2020. Net income for the year was $76.0 billion.
Google remains the top destination for advertising online with $61.2 billion in ads in the quarter on its search network, Adsense network of sites and streaming video service YouTube.
Sundar Pichai, CEO of 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 sawongoing strong growth in our advertising business, which helped millions of businesses thrive and find new customers, a quarterly sales record for our Pixel phones despite supply constraints, and our Cloud business continuing to grow strongly.”
Ruth Porat, CFO of Alphabet and Google, said: “Our fourth quarter revenues of $75 billion, up 32% year over year, reflected broad-based strength in advertiser spend and strong consumer online activity, as well as substantial ongoing revenue growth from Google Cloud. 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.”