Following Apple, Alphabet released its Q4 and Fiscal Year 2022 earnings report earlier today, reporting revenue gains of $76 billion for the October-December 2022 period and $283 billion for the fiscal year. The Q4 figure showed only a 1% increase compared to the 4th quarter of 2021, while the Fiscal year revenue figure saw a 10% increase. Net income/profit ($13.6 billion) for Q4 2022 fell 33% compared to Q4 21, while the annual figure fell 21% from $76 billion in 2021 to $60 billion in 2022.
Alphabet CEO Sundar Pichai “on an important journey to resiliently restructure our cost structure and build viable, growing businesses that are financially sustainable” commented that. Pichai has also seen massive momentum across the Cloud, YouTube subscriptions, and Pixel devices. YouTube Music and Premium, more than 80 million reached the subscriber (including trials). Google recently laid off 12,000 employees, mainly due to sluggish growth figures.
Google’s annual earnings report saw $67.8 billion, representing a $1.5 billion decrease from 2021 values in the Services category, which includes Search, YouTube, Maps, Chrome, Android, Google Play and hardware. While advertising revenues decreased by $2 billion in 2022, R&D expenditures increased by $1.5 billion compared to 2021.