A Brand for social justice
In 2020, brands did something they’d never done before: They spoke up about race.
The losses were more than offset by its core search and advertising businesses
Alphabet, the parent company of Google, racked up US$3.6 billion in losses last year on investments in "big bets" such as self-driving cars and Internet balloons.
The company was known to be spending heavily on these items but revealed actual figures for the first time Monday when it broke out results separately for its core Google business and for big-bet investments, which it also calls moonshots.
The losses for those items were much higher in 2015 than in 2014, when they totaled $1.9 billion. And they brought in just $448 million in revenue last year.
Still, Alphabet says it stands to reap rich rewards in the long term if any of those bets pay off. They also include its investments in smart thermostat company Nest, Google Fiber, and medical science, including efforts to build a smart contact lens that measures glucose levels.
The losses from Alphabet's big bets were more than offset by the profits made by Google and its core advertising and search businesses. Google generated $23.4 billion in operating income last year, on $74.5 billion in revenue.
Google reorganized itself last year under a holding company called Alphabet, which consists of Google and then other business units that place long term bets on emerging areas. It said the move would provide more visibility into how its core search and ad businesses are doing.
Alphabet as a whole reported strong results for last quarter. Revenue for the three months to Dec. 31 was $21.3 billion, up 18 percent from the year before and higher than the $20.8 billion analysts had been expecting, according to a poll by Thomson Reuters.
Net profit for the quarter rose to $4.9 billion. On an adjusted basis, net earnings per share was $8.67, up 28 percent and much better than the $8.10 analysts had forecast.
In this latest episode of our conversations over a cuppa with CMO, we catch up with the delightful Pip Arthur, Microsoft Australia's chief marketing officer and communications director, to talk about thinking differently, delivering on B2B connection in the crisis, brand purpose and marketing transformation.
In 2020, brands did something they’d never done before: They spoke up about race.
‘Business as unusual’ is a term my organisation has adopted to describe the professional aftermath of COVID-19 and the rest of the tragic events this year. Social distancing, perspex screens at counters and masks in all manner of situations have introduced us to a world we were never familiar with. But, as we keep being reminded, this is the new normal. This is the world we created. Yet we also have the opportunity to create something else.
In times of uncertainty, people gravitate towards the familiar. How can businesses capitalise on this to overcome the recessionary conditions brought on by COVID? Craig Flanders explains.
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