Google’s new spending binge shows a company playing catch-up
6 years, 11 months ago

Google’s new spending binge shows a company playing catch-up

Hindustan Times  

Alphabet Inc.’s first-quarter results came with a clear message to Wall Street: The company is embarking on a new spending binge to chase its biggest rivals. Google’s higher spending in the first quarter shaved operating profit margins to 22 percent from 27 percent a year earlier. Google’s parent posted the strongest sales growth in almost four years on Monday, indicating marketers kept flocking to its services amid rising scrutiny of digital ads. Chief executive officer Sundar Pichai told investors that Google’s nascent hardware unit, which builds smartphones and speakers rivaling Amazon and Apple, is two to three years from “the scale that we want to see.” The investment required for this includes custom chips designed in-house, an expensive skill that Apple has been developing for years. While increased concern about privacy and new regulation may crimp Google’s ad business at some point, the company’s broad reach, vast resources and dominant market share mean smaller rivals may have more to lose.

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History of this topic

Amazon, Microsoft, Alphabet, and Meta to spend well over $300 billion on AI in 2025, fearing China
Trending News
1 month, 2 weeks ago

Amazon, Microsoft, Alphabet, and Meta to spend well over $300 billion on AI in 2025, fearing China

Firstpost  

Amazon, Microsoft, and Alphabet each saw sharp stock declines following their fourth-quarter earnings reports, which revealed steep increases in AI-related capital spending. Microsoft and Google’s market values dropped by $200 billion as their cloud divisions reported weaker growth Microsoft CEO Satya Nadella reaffirmed his commitment to spending $80 billion to expand Azure, emphasising the importance of capitalising on its early …

Tech giants double down on their massive AI spending
1 month, 2 weeks ago

Tech giants double down on their massive AI spending

Live Mint  

Tech giants projected tens of billions of dollars in increased investment this year and sent a stark message about their plans for AI: We’re just getting started. “We think virtually every application that we know of today is going to be reinvented with AI inside of it," Amazon Chief Executive Andy Jassy said on Thursday’s earnings call. Here is a …

Google owner Alphabet's share price drops overnight - have investors had enough of spending on AI?
1 month, 2 weeks ago

Google owner Alphabet's share price drops overnight - have investors had enough of spending on AI?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The parent company of Google, …

Google shares slide on spending plans despite sales jump
1 month, 2 weeks ago

Google shares slide on spending plans despite sales jump

Raw Story  

by Alex PIGMAN Google's parent company Alphabet on Tuesday reported revenue jumped in the recently-ended quarter, but shares sank on concerns it may be pouring too much money into artificial intelligence. "We are pushing the next frontiers from AI agents, reasoning and deep research to state-of-the-art video, quantum computing and more," Alphabet chief executive Sundar Pichai said during an earnings …

Google’s ad sales rose at robust rate in holiday season, but AI-driven numbers let down investors
1 month, 2 weeks ago

Google’s ad sales rose at robust rate in holiday season, but AI-driven numbers let down investors

Associated Press  

SAN FRANCISCO — Google’s digital ad sales continued to grow at a healthy clip during the holiday season, but that wasn’t enough to offset investors’ worries about whether its big bet on artificial intelligence will yield as big a jackpot as once envisioned. The October-December results released Tuesday by Google parent Alphabet Inc. showed the company is continuing to reap …

Apple seeks to defend Google's billion-dollar payments in search case
2 months, 3 weeks ago

Apple seeks to defend Google's billion-dollar payments in search case

The Hindu  

Apple has asked to participate in Google's upcoming U.S. antitrust trial over online search, saying it cannot rely on Google to defend revenue-sharing agreements that send the iPhone maker billions of dollars each year for making Google the default search engine on its Safari browser. Apple does not plan to build its own search engine to compete with Alphabet's Google, …

Alphabet's Strong Performance Offers Clues for the Future of Google
4 months, 3 weeks ago

Alphabet's Strong Performance Offers Clues for the Future of Google

Live Mint  

Google's Q3 results show strong performance, with revenue and operating income exceeding Wall Street expectations. The company's cloud-computing operation, Google Cloud, saw significant growth, while its services segment generated a healthy profit despite some concerns about AI spending. Despite the challenges posed by antitrust cases, Alphabet is committed to delivering a robust bottom line and maintaining its status as a …

Alphabet beats sales estimates on Google Cloud growth, revenue jumps to $74.6 billion and shares rise 5%
4 months, 3 weeks ago

Alphabet beats sales estimates on Google Cloud growth, revenue jumps to $74.6 billion and shares rise 5%

Live Mint  

Google parent Alphabet Inc. reported third-quarter sales that climbed more than analysts expected, helped by robust demand for cloud computing services from companies racing to develop or adopt artificial intelligence. “In cloud, our AI solutions are helping drive deeper product adoption with existing customers, attract new customers and win larger deals,” Alphabet Chief Executive Officer Sundar Pichai said in the …

Google's AI-Fueled Profits Continue Despite Regulatory Threats
Trending News
4 months, 3 weeks ago

Google's AI-Fueled Profits Continue Despite Regulatory Threats

Associated Press  

Google's financial performance remains strong despite challenges from AI and regulatory scrutiny. The company's profits and revenue increased due to its moneymaking machine powered by its search engine, but this is primarily attributed to the AI investments. The company is facing legal challenges from the US Department of Justice and Virginia state authorities regarding its search engine and digital advertising …

Google expert at antitrust trial says government underestimates competition for online ad dollars
5 months, 3 weeks ago

Google expert at antitrust trial says government underestimates competition for online ad dollars

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mark Israel, an economist who …

Google begins its defense in antitrust case alleging monopoly over advertising technology
6 months ago

Google begins its defense in antitrust case alleging monopoly over advertising technology

Associated Press  

ALEXANDRIA, Va. — Google opened its defense against allegations that it holds an illegal monopoly on online advertising technology Friday with witness testimony saying the industry is vastly more complex and competitive than portrayed by the federal government. “The industry has been exceptionally fluid over the last 18 years,” said Scott Sheffer, a vice president for global partnerships at Google, …

Salesforce beats second-quarter estimates on steady cloud demand
6 months, 3 weeks ago

Salesforce beats second-quarter estimates on steady cloud demand

Live Mint  

- Salesforce beat Wall Street expectations for second-quarter revenue and profit on Wednesday, as the business software giant benefited from higher spending on its enterprise cloud products. The company's results reflect that client spending on its suite of cloud products is picking up as the software-as-a-service pioneer battles stiff competition from rising industry players like ServiceNow. The company expects third-quarter …

"Google is a monopolist": Judge sides with Biden administration, says tech giant broke antitrust law
7 months, 2 weeks ago

"Google is a monopolist": Judge sides with Biden administration, says tech giant broke antitrust law

Salon  

Google illegally monopolized online search by paying companies like Apple and AT&T to make Google the default search engine on their devices, a federal judge ruled in a landmark antitrust case on Monday. The decision from U.S. District Judge Amit P. Mehta is the one of the most significant rulings against a tech giant in the last two decades and …

Google Loses Massive Antitrust Case Over Search Dominance
7 months, 2 weeks ago

Google Loses Massive Antitrust Case Over Search Dominance

Huff Post  

LOADING ERROR LOADING WASHINGTON — A judge on Monday ruled that Google’s ubiquitous search engine has been illegally exploiting its dominance to squash competition and stifle innovation, a seismic decision that could shake up the internet and hobble one of the world’s best-known companies. Google’s search engine processes an estimated 8.5 billion queries per day worldwide, nearly doubling its daily …

Google loses major antitrust case over search, declared a monopoly by judge
7 months, 2 weeks ago

Google loses major antitrust case over search, declared a monopoly by judge

LA Times  

In a major blow to Google, a federal judge on Monday ruled that the tech giant violated antitrust laws by illegally maintaining a monopoly on web searches. “As this process continues, we will remain focused on making products that people find helpful and easy to use.” Regulators alleged that Google maintained a monopoly on web searches by reaching agreements with …

Google’s corporate parent still prospering amid shift injecting more AI technology in search
8 months ago

Google’s corporate parent still prospering amid shift injecting more AI technology in search

Associated Press  

SAN FRANCISCO — Google’s corporate parent Alphabet Inc. delivered another quarter of steady growth amid an AI-driven shift in the ubiquitous search engine that is the foundation of its internet empire. Although the change sparked fear and outrage among online publishers worried their traffic will plummet, Google is still thriving and propelling Alphabet’s success. That division, Google’s fastest growing segment, …

Here's how much Google's parent company, Alphabet, earned per second in first 3 months of 2024
10 months ago

Here's how much Google's parent company, Alphabet, earned per second in first 3 months of 2024

India TV News  

Here's how much Google's parent company, Alphabet, earned per second in first 3 months of 2024 Google's parent company, Alphabet, net profit dropped in 2022 due to various factors. According to a report on Tuesday, Google's parent company's net income increased by 615 percent over the past decade, which is 8 times more than Apple's and twice as much as …

Would You Still Use Google if It Didn't Pay Apple $20 Billion to Get on Your iPhone?
55 years, 2 months ago

Would You Still Use Google if It Didn't Pay Apple $20 Billion to Get on Your iPhone?

Wired  

Microsoft has poured over $100 billion into developing its Bing search engine over the past two decades but has little market share to show for it. Mehta heard closing arguments on Thursday, with government attorneys arguing that without his intervention Google’s dominance would remain in years to come—despite nascent threats from AI chatbots like ChatGPT. Central to the government’s case …

Google paid Apple $20 billion to be default search engine in Safari
10 months, 3 weeks ago

Google paid Apple $20 billion to be default search engine in Safari

India Today  

Google reportedly paid Apple a staggering $20 billion in 2022 to maintain its position as the default search engine for Safari on iPhone, iPad, and Mac devices. Google has been the default search engine on Apple devices since 2002, paying a significant amount of money, and the deal has undergone multiple renegotiations over the years. Microsoft had previously attempted to …

Microsoft, Google post double-digit profit rises, boosting case for AI
10 months, 3 weeks ago

Microsoft, Google post double-digit profit rises, boosting case for AI

Al Jazeera  

Google and Microsoft have reported double-digit profit increases, buttressing the case for the tech giants’ heavy investment in artificial intelligence. The quarterly results announced on Thursday by Google parent Alphabet and Microsoft came in ahead of expectations, sending their shares 11 percent and 4 percent higher, respectively, in after-market trades. Google chief Sundar Pichai said AI text-to-image model Gemini had …

Google parent reports another quarter of robust growth, rolls out first-ever quarterly dividend
10 months, 3 weeks ago

Google parent reports another quarter of robust growth, rolls out first-ever quarterly dividend

Associated Press  

Google’s corporate parent Alphabet Inc. on Thursday released a quarterly report showing it’s still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence. Alphabet punctuated its renewed vigor by also disclosing plans to begin paying shareholders a quarterly dividend for the first time since since Google went public 20 years ago. …

Google parent reports another quarter of accelerating growth and its stock price soars
10 months, 3 weeks ago

Google parent reports another quarter of accelerating growth and its stock price soars

LA Times  

The logo for Alphabet appears on a screen at the Nasdaq MarketSite in New York. Google’s corporate parent, Alphabet Inc., on Thursday released a quarterly report showing it’s still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence. As has been the case since the company went public 20 years ago, …

Sundar Pichai shares Google's AI plan to beat Amazon, Microsoft: ‘Incredible opportunity’
11 months, 2 weeks ago

Sundar Pichai shares Google's AI plan to beat Amazon, Microsoft: ‘Incredible opportunity’

Hindustan Times  

Google CEO Sundar Pichai said that in the fourth quarter of 2023 Google Cloud was at a $36 billion annual revenue run rate. At the Google Cloud Next event, Sundar Pichai said that Google Cloud is showing progress owing to deep investments that the company has made in Artificial Intelligence. Google and Alphabet Inc. CEO Sundar Pichai talked about the …

Amazon and Meta—Nothing Artificial About These Results
1 year, 1 month ago

Amazon and Meta—Nothing Artificial About These Results

Live Mint  

The e-commerce titan and social networking giant both posted strong fourth-quarter results late Thursday. The two beat Wall Street’s consensus targets for both revenue and operating income by wider margins than Microsoft and Google-parent Alphabet did with their respective December quarter reports earlier in the week. The company did manage to beat Wall Street’s projections for its all-important iPhone revenue, …

Google Being Penny Wise, Pound Foolish: Spent over $2bn laying people off in 2023, $700mn in 2024
1 year, 1 month ago

Google Being Penny Wise, Pound Foolish: Spent over $2bn laying people off in 2023, $700mn in 2024

Firstpost  

Google spent a substantial $2.1 billion on severance packages and associated costs while downsizing its workforce by over 12,000 employees throughout 2023, as per a report by The Verge. Key contributors to this growth were Google’s core digital advertising and cloud computing businesses, which demonstrated consistent expansion, attributed by CEO Sundar Pichai to investments in generative AI. Despite the layoffs, …

Google parent Alphabet ad revenue disappoints, CapEx up; shares sink 6%
1 year, 1 month ago

Google parent Alphabet ad revenue disappoints, CapEx up; shares sink 6%

Live Mint  

Alphabet disappointed Wall Street on Tuesday as holiday-season advertising sales came in below expectations and the company said its spending on items such as servers to power artificial intelligence would jump this year. "Alphabet's disappointing ad revenue numbers suggest that corporations worldwide are still uncertain about the pace of interest rate cuts from global central banks," said Thomas Monteiro, an …

Google’s parent posts double-digit revenue growth in 4th quarter, but ad sales rise at slower pace
1 year, 1 month ago

Google’s parent posts double-digit revenue growth in 4th quarter, but ad sales rise at slower pace

Associated Press  

SAN FRANCISCO — Google’s corporate parent returned to double-digit revenue growth during last year’s final quarter, signaling the internet powerhouse has regained its footing even as it grapples with regulatory and competitive threats to its digital empire. The results announced Tuesday by Alphabet Inc. marked the third consecutive quarter of escalating revenue growth for the Mountain View, California, company, with …

From ‘Don’t be evil’ to anti-trust: Google turns 25
1 year, 3 months ago

From ‘Don’t be evil’ to anti-trust: Google turns 25

Hindustan Times  

In 1998, almost a quarter of a century after its founding, Microsoft found itself facing a legal challenge. The hearing for the landmark United States vs Microsoft began in May, with district attorneys challenging the company’s strategy of bundling its Internet Explorer browser with its Windows operating system, making it the default option for users who wanted to surf the …

This is how much Google pays Apple for the money it makes through Safari
1 year, 4 months ago

This is how much Google pays Apple for the money it makes through Safari

India Today  

Google is currently facing an antitrust lawsuit from the U.S. Justice Department, alleging that the tech giant is illegally maintaining a monopoly in online search and related advertising markets. Although the exact amount Google pays has never been officially disclosed by either Google or the smartphone makers, a recent testimony by an main economics expert for the Alphabet Inc. unit, …

Google gives Apple 36pc of ad revenue from Safari browser, court hears
1 year, 4 months ago

Google gives Apple 36pc of ad revenue from Safari browser, court hears

The Telegraph  

Google gives Apple a 36pc cut of advertising revenue from its searches made in its Safari browser, a court has heard. The US Department of Justice has accused Google of abusing its dominant position by paying billions to ensure that its search engine remains the default on smartphones and browsers. According to Prof Murphy, Apple receives 36pc of all advertising …

Google paid $26 bln to be default search engine in 2021 - Bloomberg News
1 year, 4 months ago

Google paid $26 bln to be default search engine in 2021 - Bloomberg News

The Hindu  

Alphabet's Google paid $26.3 billion to other companies in 2021 to ensure its search engine was the default on web browsers and mobile phones, a top company executive testified during the Justice Department's antitrust trial, Bloomberg News reported on Friday. The amount of payments Google made for the default status has more than tripled since 2014, according to senior executive …

Google made $77 billion in July-September this year, but investors are unhappy. Here’s why
1 year, 4 months ago

Google made $77 billion in July-September this year, but investors are unhappy. Here’s why

Firstpost  

Google exceeded their revenue expectations from its search and ad businesses between July-September this year. However, their cloud services fell short, with an operating income of $266 million, against a projection of $434 million Google’s parent company Alphabet made a pretty sizeable $77 billion between the months of July-September this year. The company’s search advertising segment also performed well, bringing …

Google-parent Alphabet's cloud division misses revenue estimates, as Microsoft’s cloud booms
1 year, 4 months ago

Google-parent Alphabet's cloud division misses revenue estimates, as Microsoft’s cloud booms

The Hindu  

Google-parent Alphabet's cloud business crawled to its slowest in 10 quarters, sending the company's stock down 5.7% after hours, even as sales at rival Microsoft's cloud unit boomed. The drop in Google’s share price despite beating Wall Street estimates for profit and sales, shows how much investors want the company to deliver gains in artificial intelligence, and shows the cloud …

Alphabet Q3 result: Google Cloud miss overshadows earnings, shares fall over 5%
1 year, 4 months ago

Alphabet Q3 result: Google Cloud miss overshadows earnings, shares fall over 5%

Live Mint  

Google-parent Alphabet's cloud business missed revenue estimates, leading the company's share price to fall over 5% after hours. Google Cloud third-quarter revenue rose 22.5% to $8.41 billion, while it posted operating income of $266 million, compared with an operating loss of $440 million a year ago. By contrast, revenue from Microsoft's Intelligent Cloud unit, which houses the Azure cloud computing …

Google’s ad sales growth accelerated in 3Q, but investors are unimpressed with the performance
1 year, 4 months ago

Google’s ad sales growth accelerated in 3Q, but investors are unimpressed with the performance

Associated Press  

SAN FRANCISCO — Google’s digital advertising sales growth accelerated during the summer, advancing a recent revival that helped its corporate parent Alphabet Inc. to deliver a quarterly profit that exceeded analysts’ projections. The third-quarter results released Tuesday for the July-September period included a 9% increase in Google’s ad sales from the same time last year. The upturn was even better …

Microsoft-Google Clash & Other Learnings From the First Big Tech Antitrust Trial
1 year, 5 months ago

Microsoft-Google Clash & Other Learnings From the First Big Tech Antitrust Trial

The Quint  

These battles are nothing new. They revolve around various issues such as antitrust concerns, data privacy, market dominance, and competition. But the fact that regulators have opened the canvas of these fights is interesting because of two reasons: Firstly, it gives a wider opportunity for the regulators to understand the intricacies of the products and solutions in the market and …

Google’s trial, Amazon’s FTC lawsuit, and the perils of the garbage internet.
1 year, 5 months ago

Google’s trial, Amazon’s FTC lawsuit, and the perils of the garbage internet.

Slate  

Shopping for dog food shouldn’t be this hard. In suing Google, the DOJ and 11 states called the search engine the “unchallenged gateway to the internet” for billions of people and noted that, in order to reach them, “countless advertisers must pay a toll.” Similarly, the FTC and 17 states allege that Amazon degraded the quality of its services and …

DuckDuckGo founder says Google's phone and manufacturing partnerships thwart competition
1 year, 6 months ago

DuckDuckGo founder says Google's phone and manufacturing partnerships thwart competition

The Hindu  

Appearing in the biggest antitrust trial in a quarter century, DuckDuckGo founder Gabriel Weinberg testified Thursday that it was hard for his small search engine company to compete with Google because the powerhouse has deals with phone companies and equipment manufacturers to make its product the default search option on so many devices. DuckDuckGo still sells ads, but bases them …

Google gives a glimpse of its defence in once-in-a-generation antitrust trial
1 year, 6 months ago

Google gives a glimpse of its defence in once-in-a-generation antitrust trial

The Hindu  

Search and advertising giant Google gave a glimpse of a main leg of its defence in court on Thursday, through data showing that users happily stick with its search engine when pre-installed on their devices and quickly switch from Bing or others they like less. The government says Google paid $10 billion annually to wireless companies like AT&T, device makers …

Google pays more than $10 billion a year to maintain its search dominance, says U.S.
1 year, 6 months ago

Google pays more than $10 billion a year to maintain its search dominance, says U.S.

The Hindu  

Google has exploited its dominance of the internet search market to lock out competitors and smother innovation, the Department of Justice said Tuesday at the opening of the biggest U.S. antitrust trial in a quarter century. “This case is about the future of the internet and whether Google's search engine will ever face meaningful competition,” said Kenneth Dintzer, the Justice …

Google pays more than $10 billion a year to maintain its search dominance: US
1 year, 6 months ago

Google pays more than $10 billion a year to maintain its search dominance: US

Deccan Chronicle  

WASHINGTON: Google has exploited its dominance of the internet search market to lock out competitors and smother innovation, the Department of Justice said Tuesday at the opening of the biggest U.S. antitrust trial in a quarter century. “This case is about the future of the internet and whether Google's search engine will ever face meaningful competition,” said Kenneth Dintzer, the …

Microsoft reports $20.1B quarterly profit as it promises to lead ‘the new AI platform shift’
1 year, 7 months ago

Microsoft reports $20.1B quarterly profit as it promises to lead ‘the new AI platform shift’

Associated Press  

Microsoft reported a 20% spike in quarterly profits Tuesday, helping to fuel its battle to get ahead of rivals like Google, Amazon and Facebook parent Meta in selling the latest artificial intelligence technology. Macquarie analyst Sarah Hindlian-Bowler said investors have been focused on Microsoft’s early revenue from those artificial intelligence investments, the performance of the Azure cloud computing platform and …

Google Is All About Cost Control Now
1 year, 10 months ago

Google Is All About Cost Control Now

Live Mint  

Google is working hard to do more with less. Its parent company, Alphabet Inc., posted decent first-quarter results late Tuesday—decent in the sense that overall revenue narrowly beat Wall Street’s dim expectations thanks to some surprising resilience in the core search advertising business and despite a continuing slump in YouTube ads. The signs here are better: Total operating profit of …

Google’s persistent ad slump weighs on Alphabet’s 1Q results
1 year, 10 months ago

Google’s persistent ad slump weighs on Alphabet’s 1Q results

Associated Press  

SAN FRANCISCO — Google’s advertising malaise persisted during the first quarter while the internet company also grapples with advancements in artificial intelligence technology that threaten to undercut its dominant search engine. An unprecedented downturn in Google’s digital ad revenue – the company’s main moneymaker for more than 20 years – came into sharper focus Tuesday with the release of the …

Google-parent Alphabet reports better than expected earnings
1 year, 10 months ago

Google-parent Alphabet reports better than expected earnings

Live Mint  

Alphabet Inc on Tuesday reported first quarter revenue above analysts’ estimates on higher demand for cloud services and better than expected ad sales. Alphabet reported revenue for the March quarter at $69.79 billion, higher than analysts’ forecasts. Ad sales at Google’s YouTube video site declined 2.5% in March quarter from last year period. Alphabet’s net income stood at $15 billion, …

Google Ad Revenue Expected to Drop for Second Straight Quarter
1 year, 10 months ago

Google Ad Revenue Expected to Drop for Second Straight Quarter

Live Mint  

Google is expected to report a second straight drop in advertising revenue, extending a rare decline as the company battles economic uncertainty and tries to capitalize on recent advances in artificial intelligence. Alphabet Inc., Google’s parent company, is expected to report $53.7 billion in ad revenue for the first quarter, a drop of 1.8% from the same period last year, …

Microsoft Bing with OpenAI integration outpaces Google in page visits
2 years ago

Microsoft Bing with OpenAI integration outpaces Google in page visits

India TV News  

According to Similarweb, the incorporation of OpenAI's technology into Bing, which is owned by Microsoft, has led to a surge in the search engine's usage, enabling it to compete more effectively with market leader Google in terms of page visits. Following the launch of Microsoft's AI-based Bing search engine on February 7, there has been a significant increase of 15.8 …

Microsoft takes on Google Search with AI
2 years, 1 month ago

Microsoft takes on Google Search with AI

Al Jazeera  

Microsoft is staking its future on AI through billions of dollars of investment as it directly challenges Google. Microsoft Corp is revamping its Bing search engine and Edge web browser with artificial intelligence, the company said on Tuesday, in one of its biggest efforts yet to lead a new wave of technology and reshape how people gather information. Bing will …

Google, Apple, Amazon give investors reason to fret
2 years, 1 month ago

Google, Apple, Amazon give investors reason to fret

The Hindu  

Wall Street had its eyes on Friday on big tech after some of the biggest companies in the world posted lacklustre quarterly financial performances. The company posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season. Amazon reported worse-than-expected fourth-quarter profits, but its …

Alphabet posts lower Q4 profit amid ad squeeze, competition
2 years, 1 month ago

Alphabet posts lower Q4 profit amid ad squeeze, competition

Associated Press  

Google’s parent company Alphabet on Thursday posted lower profit and a small revenue increase for last year’s fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant. Alphabet, like Facebook parent Meta, Amazon and other tech companies, is navigating a rough economic patch that’s especially hurting the online advertising market. In response …

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