Alphabet nearly doubles annual profitGOOGLE PARENT: CEO Sundar Pichai ascribed the success to growth in advertising, its cloud business and sales of Pixel phones, despite supply constraintsAFP, SAN FRANCISCOGoogle’s parent firm, Alphabet Inc, announced quarterly profits on Tuesday that beat expectations and nearly doubled last year — after a booming holiday season for the online ads giant facing anti-trust regulation scrutiny. Photo: BloombergAlphabet CEO Sundar Pichai cited “strong growth in our advertising business ... a quarterly sales record for our Pixel phones despite supply constraints, and our cloud business continuing to grow strongly” for the success. Alphabet said its board had approved a 20-to-1 stock split that would make shares more affordable to small investors. “In the fourth quarter, retail was again by far the largest contributor to year-on-year growth of our ads business,” Alphabet CBO Philipp Schindler told analysts. The stock was up nearly 9 percent in after-market trades Tuesday at 10:40pm GMT to US$2,990.

Source: Taipei Times February 03, 2022 03:55 UTC