Alphabet, Google's parent company, has announced financial results for the quarter and fiscal year ending on December 31, 2019.
According to the official results, the Mountain View-based tech giant earned $162 billion in 2019, recording an 18% year-over-year growth.
Interestingly, the company has also reported the revenues from YouTube and cloud for the first time, giving a more granular into its earnings.
Here's what CEO Pichai said about the earnings
"Our investments in deep computer science, including artificial intelligence, ambient computing, and cloud computing, provide a strong base for continued growth and new opportunities across Alphabet," said Sundar Pichai, Chief Executive Officer of Alphabet and Google.
Here's how much Alphabet earned from YouTube
Alphabet reported that in 2019, YouTube ads generated $15.15 billion in revenue, with $4.72 billion in the fourth quarter alone. In comparison, the earning from YouTube ads last year stood at $11.16 billion.
However, these figures do not include YouTube's non-advertising revenue, like channel subscriptions for YouTube, which are consolidated in Google's other revenue segment.
Google Search accounted for the lion's share in ad revenue
According to the earnings report, Google's ad revenue hit $134.81 billion last year versus $116.46 billion in 2018. With respect to Google's ad revenue, the 'Google Search and other' segment contributed $98.1 billion in 2019 as against $85.3 billion in the year before.
Google's cloud service recorded over 50% YoY growth
Google's cloud business made $8.92 billion in revenue in 2019, with $2.61 billion earned in the last quarter. In comparison, the annual revenue from the cloud business stood at $5.84 billion in 2018.
According to Pichai, the cloud business ended 2019 with a $10 billion annual run rate, which is up 53% from last year.