On February 01, the Google parent company, Alphabet Inc. (GOOGL) posted its results for Q4 and fiscal 2021 along with a stock split in form of a stock dividend. Consequently, the stock increased further in the after-hours to reach $3,005 per share.
The anticipation of the earnings report had already caused investors to flock towards the stock during the regular session. Hence, the stock traded a heavy volume of 3.43 million (212% of average) to add 1.73% in the regular session. After closing the session at $2,752.88 with a gain of $46.81, the stock increased further after hours. Following the announcement, GOOGL increased by 9.16% or $252.12 at an after-hours volume of 1.15 million shares on Tuesday.
GOOGL’s Financial Results
During Q4 of 2021, the company generated revenues of $75.3B against $56.8B in the year-ago quarter. Thus, the revenue not only increased by 32% YOY but also beat the analyst’s expectations of $72.3B.
Moreover, the fiscal 2021 revenues of the company were $257.6B against $182.5B in the previous year. This marks an increase of 41% YOY.
Additionally, GOOGL reported a net income of $20.6B in Q4 2021, against $15.2B in the year-ago quarter. Resultantly, the diluted EPS was $30.69 and $22.30 in Q4 of 2021 and 2020, respectively. Therefore, the EPS beat analysts’ estimate of $27.68 for the fourth quarter of 2021.
Furthermore, the diluted EPS for fiscal 2021 was $112.20 against $58.61 for the previous year.
Stock Split
Along with the results, the company also announced the approval of a 20-for-1 stock split by its board. The stock split will be in the form of a one-time special stock dividend on GOOGL’s Class A, B & C stock shares.
After approval of the stock split from the company’s stockholders, the one-time dividend will be paid on July 15, 2022, after the close of business. For every share held by a stockholder, a dividend of 19 additional shares of the same class stock will be paid. Further, the record date for this special dividend in relation to the stock split is July 1, 2022.
Google Cloud Next ‘21
Recently, the company held Google Cloud Next ’21 from October 12 to October 14, 2021. During the event, Chief Executive Officer, Google Cloud, Thomas Kurian participated in an opening keynote on October 12.
Before that, Mr. Kurian also participated in the Deutsche Bank 2021 Technology Conference on September 9, 2021.
