With a jump in advertising sales, Alphabet logs $39.3 bn in revenue on Google ad business
Alphabet, the parent company of Google that rides on Google's robust ad business has logged $39.3 billion in revenue for the fourth quarter of 2018 that is an increase of 22 per cent compared to last year.
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The advertising business of Google accounts to $32.6 billion of Alphabet's overall revenue.
Ruth Porat, Chief Financial Officer of Alphabet and Google, said in a statement on Monday, "In 2018 we delivered strong revenue growth, up 23 per cent year over year to $136.8 billion, and up 22 per cent for the fourth quarter to $39.3 billion".
The traffic and acquisition cost of Alphabet turned out to be $7.4 billion up from $6.5 billion a year ago.
Ruth Porat added that "With great opportunities ahead, we continue to make focused investments in the talent and infrastructure needed to bring exceptional products and experiences to our users, advertisers and partners around the globe".
The company now has 98,771 employees globally reported a net income of $8.94 billion for the fourth quarter.
Other revenue sources include Play Store, hardware and google cloud enterprise efforts that reported a $6.4 billion, but Alphabet did not disclose separately, how much its cloud business contributes to the quarter's revenue.
(With IANS inputs)
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