Google’s parent company Alphabet has said that revenues for the fourth quarter surged 22pc on the back of mobile search and YouTube.
Revenues from Google accounted for the lion’s share of Alphabet’s Q4 performance, with revenues of $25.8bn up from $21.1bn a year ago.
Google reported an operating profit of $7.8bn for the quarter, up from $6.7bn last year.
‘We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets’
– RUTH PORAT
Alphabet’s Other Bets brought in revenues of $262m, up from $150m in 2015.
However, Other Bets made losses of $1bn in Q4, down from $1.2bn last year.
“Our growth in the fourth quarter was exceptional – with revenues up 22pc year-on-year and 24pc on a constant currency basis,” said Ruth Porat, CFO of Alphabet.
“This performance was led by mobile search and YouTube. We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets,” Porat added.
Google plans Dublin expansion
Google is understood to be planning to create 400 new jobs in Dublin, cementing its position as one of the city’s biggest employers.
Google is reportedly in talks to rent the Irish Life Investment Managers-owned Velasco building, a 51,000 sq ft building on Grand Canal in Dublin.
Alphabet subsidiary Google employs 3,000 direct employees and 3,000 full-time contractors in Dublin and has offices on both sides of Barrow Street, including Dublin’s tallest building, the Montevetro building, and offices in EastPoint.
In recent months, Fionnuala Meehan was named Google’s new country manager, as her predecessor Ronan Harris took up the role of head of UK and Ireland.
Last year, Harris described Dublin as the “data capital of Europe”.