Alphabet Q4 earnings show skyrocketing cloud, health business revenue

Listen
Text
  • Small
  • Medium
  • Large

Alphabet released its earnings report for the fourth quarter of 2019 on Feb. 3, reporting total revenues of more than $46 billion, a year-over-year increase of 17 percent.

The fourth-quarter report marked the first time the tech giant has disclosed YouTube advertising and Google Cloud revenues, per CNBC. Google Cloud earned $2.6 billion in the quarter, bringing revenues for all of 2019 to $8.9 billion, a significant jump from 2018’s $5.8 billion in cloud revenue.

Alphabet also broke out the earnings for its “Other Bets” business, which includes most of its health-related offerings and offshoots, including life sciences arm Verily, biotech company Calico, venture arm GV and artificial intelligence startup DeepMind. The segment earned $172 million in revenues in the fourth quarter of 2019 — up from $154 million in the fourth quarter of 2018 — and $659 million for the full year.

"Many of our bets are now getting to the stage where it now makes sense for them to partner closely with other players and investors in the industry," Alphabet CEO Sundar Pichai said in an earnings call, according to CNBC.

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars