Google Pixel phones and Cloud subscriptions contribute to Google’s 10% YoY revenue growth
It’s not new for us to see these once-in-a-while reports of how phone brands and other businesses generally break even, generate profit or take losses. Reports from sources show that Google Pixel Phones and Cloud subscriptions contribute to the Big G’s(Google’s) 10 percent YoY revenue growth.
Google Pixel phones and Cloud subscriptions effect on the revenue
Alphabet released its fourth-quarter and fiscal-year 2022 earnings report earlier today, reporting revenue of $76 billion for the October-December 2022 period and $283 billion for the fiscal year.
The Q4 statistic represents a 1% rise over Q4 2021, while the FY revenue figure represents a 10% increase. Net income/profit for the fourth quarter of 2022 ($13.6 billion) is down 33% from the fourth quarter of 2021, while the annual amount is down 21% from $76 billion in 2021 to $60 billion in 2022.
Sundar Pichai, CEO of Alphabet, stated that the firm is “on an essential journey to re-engineer our cost structure sustainably and to develop financially viable dynamic, growing companies.” Pichai also stated that Google Pixel phones and Cloud subscriptions are gaining traction. YouTube Music and Premium have more than 80 million subscribers (including trials). Google recently fired off 12,000 workers, primarily owing to stagnant growth numbers.
In terms of yearly revenues, Google earned $67.8 billion from its Services sector, which includes Search, YouTube, Maps, Chrome, Android, Google Play, and hardware, a $1.5 billion decrease from 2021 figures. Advertising income fell by $2 billion, but R&D investment climbed by $1.5 billion in 2022 compared to 2021.
