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2 Feb 2022
Alphabet Delivers Impressive Q4 Revenue Report, Boosting Shares by over 8%
The Index Today
Alphabet Inc., the parent company of Google, has delivered an impressive quarterly revenue report on Tuesday, surpassing expectations and expert predictions. This in turn has contributed to a rise in company shares by 8.6% to $2,990.10 during the hours after trading, which has offset the tech giant’s losses for the year so far.
This comes amid the recent negative effects on certain businesses of the ongoing COVID-19 pandemic, inflation, and the resulting supply chain shortages. It has reinstated beliefs that the world is currently gravitating towards a more digitalized economy.
In the fourth quarter of 2021, Alphabet’s revenue climbed by a whopping 32% to $75.3 billion. Google, which relies primarily on online ads for its revenue, projects a promising period of growth and prosperity for the future.
Sophie Lund-Yates of Hargreaves Lansdown says, "The pandemic has handily accelerated the world’s reliance on digital advertising." She also added that "sitting through traditional TV advert breaks or reading billboards suddenly feels completely archaic in the age of streaming and mobile phone addiction."