Alphabet Inc. (NASDAQ: GOOG, GOOGL) reported fourth quarter 2021 earnings results today.
Total revenues increased 32% year-over-year to $75.3 billion, reflecting strength in advertiser spend and strong consumer online activity along with substantial ongoing revenue growth from Google Cloud.
Net income amounted to $20.6 billion, or $30.69 per share, compared to $15.2 billion, or $22.30 per share, last year.
Both the top and bottom line numbers beat market expectations.
Total Google Services revenue amounted to $69.4 billion while Google Cloud revenue totaled $5.5 billion.
The stock was up 7% during after-market hours on Tuesday following the earnings announcement.