Alphabet Inc., Google’s parent company, reported record-breaking advertising revenue of $65.52 billion in the fourth quarter of 2023, year on year.
A 12.7% gain in search revenue was accompanied by a strong increase in revenue for YouTube ads by 15.5%.
Google’s advertising network was slightly down 2.1%, however, this was an improvement on the 2.6% loss reported in the third quarter of 2023.
- “We ended 2023 with very strong fourth quarter financial results, with Q4 consolidated revenues of $86 billion, up 13% year over year. We remain committed to our work to durably re-engineer our cost base as we invest to support our growth opportunities,” said Alphabet President and Chief Investment Officer, CFO, Ruth Porat.
