Google's parent company Alphabet has still managed to break new records with a 41% year-over-year increase in revenues. Per the company's report, Alphabet was able to make a massive $257 billion in revenue in 2021.
Alphabet Surpassed the $200 Billion Mark in Annual Revenue
Alphabet has officially released its Q4 and fiscal year 2021 results, which showed a new record for the company. It should be noted that this is the first time ever that Alphabet has ever able to surpass the $200 billion in annual revenue mark.
According to the story by HypeBeast, the company was able to achieve a massive 41% year-over-year increase for the year 2021, which ended on December 31. To be exact, Alphabet was able to record $257 billion in total revenue for the year.
Alphabet's Q4 Revenues Alone Hit $75 Billion USD
The Q4 revenue from last year alone hit $75 billion, according to the recordss. These numbers "attributed to advertisers strength, consumer activity online and the growth of Google Cloud," said Ruth Porat, the CFO of both Alphabet and Google.
The company also has exciting news for shareholders. Alphabet has announced a 20-for-one stock split. This means that every stockholder will be given a "dividend of 19 more shares of the same class of stock for every share."
Alphabet and Google CEO Expresses Excitement Towards Web3 and Blockchain Technology
CEO of Alphabet and Google, Sundar Pichai, noted last year that web3 and blockchain technology excites him. According to the CEO, augmented reality (AR) is one of the major interests amongst others when referring to the company's interest in web3.
Pichai also noted that the company is looking into blockchain technology. He also said that their Cloud Team is now looking towards how they will be able to support their customers' needs, especially when it comes to storing value, building transactions, and introducing new products to the public that are based on blockchain platforms.
How Google Plans to Enter the Space
Pichai also said that they will "definitely be watching the space closely" and even supporting the space wherever the company is capable of doing so. In relation to this news, Google is actually also working on its very own AR headset.
With Microsoft dropping out of the metaverse hardware race by giving up on its plans to release the HoloLens 3 AR headset, Google has one less competitor to worry about as Microsoft is prefering to focus more on software development.
Microsoft Gone with Google Potentially Taking Over
Microsoft was actually the first to introduce AR headsets to the public back in 2015 thanks to the first ever HoloLens. However, despite it being the first, it seems like since Microsoft is dropping out, which could potentially lead to Google taking its place.
As of writing, other companies like Meta are focusing heavily in AR, virtual reality (VR), and mixed reality (MR) technology to deal with the sway of technology into the metaverse.
Related Article: Meta's $10 Billion Loss in 2021 Shows Facebook Spending Massive Amounts to Look for Next Stage of Growth
This article is owned by Tech Times
Written by Urian B.
