23 Astounding Google Revenue Statistics to Ogle in 2023
Updated · May 20, 2023
It's difficult not to think of Google when discussing technology or the internet. Google has been the most popular search engine for desktop and mobile users since the dawn of the digital revolution.
It controls slightly more than 92% of the global search engine market.
But Google is much more than just a search engine.
The tech company also specializes in cloud computing, online advertisement, software, and hardware—all of which contribute to the billions Google earns each year.
Let’s dive deep into some of the latest Google revenue statistics.
Google Revenue Breakdown (Editor’s Choice)
- Alphabet, Google’s parent company, is worth more than $1 trillion.
- Google has generated more than $30 billion in revenue per quarter since 2018.
- Alphabet reported $46.075 billion in revenue for the fourth quarter of 2019.
- Google’s revenue in 2020 was more than $180 billion.
- 80% of Google’s revenue came from ads in 2020.
- With over 63 million search queries per second, it isn’t so surprising that...
- ...Google earned more than $55 billion from targeted advertising alone in the first quarter of 2021.
Google Annual Revenue: The Numbers of Success
Google went public in 2004.
On the day of its market debut, Google’s capitalization was $23 billion. Since then, there’s been no turning back for the tech giant.
Let’s take a quick look at some amazing statistics that highlight Google’s growing revenue throughout the years.
1. Alphabet’s revenue increased by 12% in 2020.
(Source: Macro Trends)
Alphabet, Google's parent company, has been steadily growing throughout the decade. The company generated $182.5 billion in 2020—a 12.77% increase from the previous year ($161.85 billion).
The company saw an impressive yearly revenue growth back in 2018 (23.42%).
2. Google generated more than $180 billion in 2020.
Google’s yearly revenue (Alphabet's "Other Bets" notwithstanding) has been increasing by at least $20 billion each year since 2016, reaching $181.69 billion in 2020.
The most impressive yearly revenue growth happened in 2018, when Google reported nearly $26 billion more than the previous year.
3. In 2020, Google generated $5,700 per second.
So, how much money does Google make a day?
Considering Google’s revenue for 2020, Google generates more than $495 million per day. This is more than a lot of tech companies’ annual income.
Breaking it down further, Google generates around $20 million an hour, $344 thousand per minute, and $5,700 per second.
Impressive, isn’t it?
4. Google saw the slowest growth rate in five years during the pandemic.
(Source: CBS News)
The pandemic affected most businesses around the world, and Google was not an exception.
Alphabet reported a 13% increase in revenue in the first quarter of 2020—which is scant, considering that Google’s revenue growth rate is regularly between 20% and 25%.
The company’s revenue growth hadn’t been that low since 2015.
But fear not: all was (definitely) not lost.
5. Google’s quarterly revenue hit an all-time high in 2020.
The company’s revenue saw a dramatic $10 billion increase from Q3 to Q4.
At the end of 2020, the search engine giant generated $56.7 billion, which is an all-time high for the tech company.
6. Google’s revenue soared to more than $50 billion in Q1 of 2021.
Google’s quarter report shows the company generated $55.3 billion—which is huge because, although it’s lower than the previous quarter’s revenue, it’s nearly $15 billion more than 2020’s first quarter.
For context, the firm’s revenue for previous years’ Q1 had been $31 billion (2018) and $36 billion (2019).
7. Google will account for more than 50% of search ad revenue in the US.
Analysts predict Google will have a 56.8% share of the total search ad revenue in the United States in 2021, but Amazon's expected 19% share is not to be taken lightly.
Bezos’ firm is one of Google’s biggest competitors on the search front and it’s strengthening its position in the market.
Google Annual Profit: Increasing Steadily
For well over a decade, Google has been the leader in online advertising. The company’s expected to capture roughly a 29% share of worldwide digital ad expenditure in 2021.
But how much does Google actually gain, once costs are deducted? Let’s see.
8. Back in 2003, Google was already earning more than $100 million in profit.
Back in 2003, Google reported a $961.9 million revenue and a $106.5 million net income. After going public in 2004, the company’s revenue and profit increased by more than 100%.
Google’s net profit for the first quarter of 2004 was $64 million.
9. Google’s net income was close to $400 million when it went public.
Looking at Google's annual income report, the tech giant earned $399.1 million in 2004. That number went up to $1.4 billion in 2005, and then it doubled again one year later, reaching a net income of $3.07 billion.
Since then, Google’s earnings have been steadily rising.
10. Alphabet’s profit for Q1 2020 was $6 billion.
(Source: Venture Beat)
In the first quarter of 2020, the company generated $41.2 billion in revenue and a net profit of $6.8 billion. This represents an increase in revenue yet a decrease in profit, compared to 2019’s figures ($36.3 billion and $8.3 billion, respectively)
Still, Google is definitely profitable.
11. Alphabet is the third tech company to be worth $1 trillion.
(Source: Market Watch)
Google’s parent company, Alphabet, became the third tech company to join the trillion-dollar club in 2020. The tech giant’s market value jumped from $900 billion to $1 trillion in the span of 47 trading days.
Apple joined the trillion-dollar club in 2018 and Microsoft followed in 2019.
12. Alphabet had more than $100 billion in financial reserves.
(Source: Business Insider)
So, how much money does Google have?
Alphabet, Google's parent firm, has surpassed Apple as the company with the most cash holdings. In 2019, Alphabet had $117 billion in financial reserves, while Apple had $102 billion.
Google Revenue Breakdown: Different Areas, Same Result
Google hasn’t hesitated to invest in a wide variety of technologies, such as cell phones, self-driving cars, voice recognition, image analysis, and other forms of AI.
Let’s take a quick look at some amazing Google revenue statistics that highlight different segments’ contributions to the company’s success.
13. Google’s Nest generated over $700 million in 2017.
Looking at Google’s revenue by product, Nest made $726 million in revenue (and lost $621 million because of operating expenses) in 2017.
Although its earnings are no more than a blip on Alphabet’s radar, Nest has had some significant growth over the last few years. Just in the fourth quarter of 2017, the brand generated $278 million—which is almost as much as its entire revenue for 2015!
Google acquired Nest for more than $3 billion back in 2014.
14. Alphabet’s “Other Bets” had a 50% surge in revenue in 2021.
(Source: Business Quant)
On Google revenue breakdown reports, there’s a segment called “Other Bets'', which includes companies such as Waymo, Verily, Access, Calico, Nest, and CapitalG.
Most of these firms are in the early stage of development and aren’t particularly profitable for Alphabet (yet).
This segment’s revenue increased by 53.85% in one year, going from $130 million in Q1 2020 to $200 million in Q1 2021. This represented 0.36% of Google’s total revenue in that quarter.
15. Google Cloud generated more than $4 billion in revenue in Q1 2021.
(Source: Android Central)
Being fairly new, Google Cloud’s earnings are not significant overall for the company, but it still generates revenue for Google. For the last quarter of 2020, the cloud computing services reported $3.83 billion in revenue and an operational loss of $1.2 billion.
The numbers for 2021’s Q1 were slightly better—$4 billion and $1 billion, respectively.
16. Google Play’s revenue nearly reached $40 billion in 2020.
In the span of four years, Google Play’s annual sales more than doubled, going from $15 billion in 2016 to $38.6 billion last year.
Google Play’s revenue in 2020 represents a 32% increase from 2019’s $29.3 billion.
17. Google Play Store and hardware generated more than $4 billion in Q1 2020.
(Source: Phone Arena)
Looking at Google’s revenue statistics, the “Other” segment, which includes Pixel smartphones, Google Home smart speakers, Nest Hub smart displays, and the Play Store generated $4.4 billion in 2020’s initial quarter.
The segment’s revenue was $3.6 billion in the first quarter of 2019.
18. Google made $20 billion in 2020 just from YouTube ads.
YouTube's global advertising sales surpassed $19.77 billion in 2020, a significant increase from 2019’s $15.15 billion. YouTube’s annual ad revenue has been steadily growing over the last few years, having more than doubled from 2017 to 2020.
But, is YouTube profitable for Google?
A few years ago, it wasn’t.
Alphabet has divulged how much money they make through the video platform, but they haven’t disclosed YouTube’s losses (if they have any).
19. YouTube generated over $6 billion in the first quarter of 2021.
(Source: Business Quant)
Google’s YouTube revenue accounted for 10.87% of Alphabet’s overall revenue in Q1. YouTube Ads alone have contributed over $34 billion over the last three years.
20. Google Search contributed to more than 57% of the total revenue in 2021.
(Source: Business Quant)
Looking at Google’s revenue statistics for 2021, Google Search accounted for 57.64% of Alphabet’s total quarterly revenue.
Google Search’s sales increased 30.11% year-on-year, going from $24.50 billion in Q1 2020 to $31.88 billion in Q1 2021.
21. Google generated more than $145 billion from advertisements in 2020.
It’s no surprise that ads are the main source of revenue for Google. In 2020, the company generated $146.92 billion just from advertisements.
Google’s ad revenue hit the $10 billion mark in 2006; it surpassed the $50 billion mark in 2013; and then the $100 billion mark in 2018, reaching a whopping $134 billion in 2019.
22. Google’s ad revenue fell 8% in Q2 of 2020.
(Source: Marketing Dive)
Google's overall advertising sales decreased 8% year-on-year to $29.9 billion in the second quarter of 2020. It seems the economic repercussions from the pandemic weighed on marketers' media expenditure.
This was the first time in its 26-year existence that Google’s ad revenue growth rate fell from the previous year.
23. Google ad sales surged by 32% in Q1 2021.
(Source: AP News)
During the January-March quarter, Google's sales increased by 32% compared to the same period the previous year, reaching over $45 billion.
It’s Google's third consecutive quarter of increasing ad growth, following the 8% decrease mentioned above.
The latest Google revenue statistics reveal that no platform comes close to Google where advertising is concerned. Perhaps the company is not as profitable as we may have imagined, but that’s okay. Google bets for the future.
And there is little to no doubt that Google will continue to thrive for years to come.
Unaware that life beyond the internet exists, Nick is poking servers and control panels, playing with WordPress add-ons, and helping people get the hosting that suits them.