Alphabet today released its fourth quarter and fiscal year 2022 earnings report, reporting revenue of $76 billion for the October-December 2022 period and $283 billion for the fiscal year. The fourth quarter figures were up just 1% compared to the fourth quarter of 2021, but sales in fiscal year 2021 were up 10%. Q4 2022 net income/earnings ($13.6 billion) decreased 33% compared to Q4 2021, bringing full-year numbers down from $76 billion in 2021 to $60 billion in 202221 % decreased.
Alphabet CEO Sundar Pichai said the company is “on an important journey to redesigning our cost structure in a durable way and building a financially sustainable, vibrant and growing business. ” commented. Pichai also explained the massive momentum in the cloud, YouTube subscriptions, and Pixel devices. He has over 80 million YouTube Music and Premium subscribers (including trials). Google recently laid off 12,000 of its employees, mainly because of stagnant growth.
Breaking down annual revenue, Google posted $67.8 billion from service categories including Search, YouTube, Maps, Chrome, Android, Google Play, and hardware. This represents a decrease of $1.5 billion compared to 2021 values. Advertising revenue decreased by $2 billion, and R&D spending in 2022 increased by $1.5 billion compared to 2021.
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