Alphabet today announced Q4 2019 earnings with $46.075 billion in revenue. These numbers range from October to December, and includes the busy holiday shopping season for Made by Google’s hardware efforts.

Revenue is up 17% from $39.27 billion in Q4 2018, with operating income at $9.27 billion and net income of $10.67 billion for this quarter. For comparison, Alphabet reported $40.49 billion in revenue and $7.06 billion in net income last quarter. The stock is down around 3% in after-hours trading by missing revenue estimates.

“Our investments in deep computer science, including artificial intelligence, ambient computing and cloud computing, provide a strong base for continued growth and new opportunities across Alphabet,” said Sundar Pichai, Chief Executive Officer of Alphabet and Google. “I’m really pleased with our continued progress in Search and in building two of our newer growth areas — YouTube, already at $15 billion in annual ad revenue, and Cloud, which is now on a $10 billion revenue run rate.”

“In 2019 we again delivered strong revenue growth, with revenues of $162 billion, up 18% year over year and up 20% on a constant currency basis,” said Ruth Porat, Chief Financial Officer of Alphabet and Google.

For the first time ever, Google broke out YouTube ad revenue at $15.15 billion for 2019 — up from $11.16 billion in 2018. Meanwhile, Pichai noted a $10 billion revenue run rate for Google Cloud. Alphabet includes performance going back to 2017 as part of “now disclosing our revenue on a more granular basis” to “provide further insight into our business and the opportunities ahead.”

“Google other revenues” — which includes hardware, Play Store, and non-advertising YouTube revenues — reported $5.26 billion, compared to $4.77 billion the same quarter last year (now excluding Cloud). This quarter saw the launch of the Pixel 4, Nest Mini, Pixelbook Go, Nest Wifi, and Stadia.

The closely-watched “Other Bets” continues to lose money, but is slowly increasing revenue. It reported $172 million revenue primarily generated by Verily and Fiber from $155 last quarter. However, it lost $2,026 billion compared to $1.328 in Q4 2018.

Alphabet will hold an earnings call with investors and members of the press to further break down numbers from the Q4 2019 earnings release. You can follow along via the livestream below and we’ll have coverage of any notable tidbits the company reveals.

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