In 2023, Google’s parent company, Alphabet, increased its profits to $73.8 billion, an increase of 23% compared to 2022 results. It said this in a statement.
The company’s revenue increased 8.6% year-on-year to $307.4 billion, Alphabet’s net profit in the fourth quarter increased 1.5 times and amounted to $20.6 billion.
Google’s advertising revenue in the fourth quarter grew 11% year-over-year to $65.5 billion, when analysts expected the figure to be $66.1 billion.
Alphabet’s board of directors authorized a $70 billion share buyback in April 2023. In 2022, the company bought back more of its own shares than any other company except Apple.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
