Related: Google’s New Smart Home Hub: What You Need to Know
Earlier this month, Google bested fourth-quarter earnings expectations. However, capital expenditures exceeded $7 million while the company reported an operating margin of 21 percent, which was lower than the 22 percent expected.
The full-year operating margin also fell by 2 percentage points compared to the same time last year.
Final earnings report figures:
- Earnings: $12.77 per share versus $10.82 according to Refinitiv consensus estimates
- Revenue: $39.28 billion versus $38.93 billion according to Refinitiv consensus estimates
- Traffic acquisition costs: $7.44 billion versus $7.62 billion according to StreetAccount
The company grew revenue in other areas, such as its Google Cloud Platform.
“Last year we more than doubled both the number of Google Cloud Platform deals over 1 million as well as the number of multiyear contracts signed,” Pichai said. “We also ended the year with another milestone passing 5 million paying customers for our Cloud collaboration and productivity solution G Suite.”
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