could be viewed as a bold statement from Sundar Pichai, the newly crowned CEO of Alphabet.
But Google has largely refused to give details on the performance of YouTube, its cloud business, or other elements of its operations that were thought to be significant factors in its financial results. That made it difficult for analysts or investors to evaluate those businesses. The new disclosures were welcomed by analysts and investors beyond Bellini. The fact that YouTube brought in $15 billion in ad revenue last year impressed Dan Morgan, a senior portfolio manager at Synovus Trust, which owns Alphabet shares.
And some of the finer grained details in the earnings update weren't so great either. The company's core search business grew by less than 17% in the fourth quarter and by just 15% in all of 2019, a marked slowdown from earlier periods. Meanwhile, the fourth-quarter operating loss posted by the company's other bets swelled to $2 billion from $1.3 billion in the same period a year earlier, while revenue only increased by 12% to $172 million.
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