Google’s parent company, Alphabet, has just announced financial results for the fourth quarter of 2022 and the full fiscal year 2022 with slight growth.
According to Neowin , Google’s revenue for the fourth quarter reached $76.048 billion, up from $75.325 billion in the same period in 2021. The full fiscal year 2022 revenue reached $282.826 billion, up from $257.637 billion in 2021. comes shortly after Alphabet announced it would lay off 12,000 of its employees.
In its statement, Alphabet said severance payments and other payments related to layoffs cost between $1.9 and $2.3 billion. Most of those fees will be recognized in the Q1 2023 earnings report. In addition, the company is expected to pay an additional $500 million to reduce office space.
In terms of fourth-quarter operating income, Alphabet brought in $18.16 billion, down from $21.885 billion a year earlier. In 2022, operating income was recorded at $74.842 billion, down from $78.714 billion in 2021. Q4 net income was $13.624 billion, down from $20,642 billion in 2021. For the full year, revenue net income was $59,972 billion, down from the $76.033 billion the company achieved in 2021.
subsidiary DeepMind Also in this financial report, it is worth noting that from now on, Google’s AI will be recognized in Alphabet’s corporate expenses, instead of another part. less. Google is pushing to develop more AI projects and features in light of the strong growth of ChatGPT.