Google and Amazon’s revenue increased sharply in the fourth quarter! Only because the epidemic changed the way of life
Affected by the new crown epidemic, people have reduced going out and spent more time at home. American Amazon and Google’s parent company Alphabet’s financial report released on February 2 showed that lifestyle changes have caused these Internet companies to increase their revenue in the fourth quarter of last year.
Alphabet’s profit in the fourth quarter of 2020 soared by 50%, reaching 15.2 billion U.S. dollars, and operating income of 56.9 billion U.S. dollars in the same period was also significantly higher than the 46 billion U.S. dollars in the same period in 2019. These figures are much higher than Wall Street expectations.
Sundar Pichai, CEO of Alphabet and subsidiary Google, said:
In days full of uncertainty, people continue to use Google’s products to get information, keep in touch with others, and comfort themselves. We are proud of this.
Affected by the epidemic, people are inconvenient to go out and spend more time watching online videos at home. Google’s advertising revenue in the fourth quarter of last year was 46.2 billion U.S. dollars, a year-on-year increase of 22%. Among them, the advertising revenue of the video website Youtu reached US$6.9 billion, an increase of 46% year-on-year.
Alphabet Chief Financial Officer Ruth Porat said that the strong performance in the fourth quarter was attributed to Google search engine and Youtu.
E-commerce platform Amazon said on the 2nd that its revenue in the fourth quarter of last year reached 125.6 billion US dollars, an increase of 44% over the same period last year, and its profit reached 7.2 billion US dollars during the same period, more than double the same period last year.
At the end of the year, people buy more New Year gifts online, which is an important reason for Amazon’s soaring revenue.
Nell Sanders, general manager of the UK Global Data Corporation, said that many people choose to shop online at home to avoid the virus when they go out shopping. This has enabled Amazon to achieve unprecedented sales at the end of last year.