Alphabet today released its fourth quarter and fiscal 2022 earnings report and reported revenue of $76 billion for the October-December 2022 period and $283 billion for the fiscal year. The fourth quarter figure is a 1% increase over the fourth quarter of 2021, while the fiscal year revenue figure was up 10%. Net income/income for Q4 2022 ($13.6 billion) was down 33% from Q4 21, while the full year figure was down 21% from $76 billion in 2021 to $60 billion in 2021. 2022.
Alphabet CEO Sundar Pichai commented that the company is “on an important journey to re-engineer our cost structure in a lasting way and to build financially sustainable vibrant and growing businesses.” Pichai also outlined big momentum in Cloud, YouTube subscriptions and Pixel devices. YouTube Music and Premium have reached over 80 million subscribers (including trials). Google recently laid off 12,000 employees mainly due to its stagnant growth data.
Analyzing year-to-year earnings, Google saw $67.8 billion from its Services category that includes Search, YouTube, Maps, Chrome, Android, Google Play, and hardware, which represents a $1.5 billion decrease from the previous year. of 2021. Ad revenue decreased by $2 billion while R&D spending in 2022 increased by $1.5 billion compared to 2021.
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