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 statement. Pichai said on a conference call with investors after the report that Google reduced the cost of giving AI answers in search queries by over 90% in 18 months, “through hardware, engineering, and technical breakthroughs,” while doubling the size of Gemini, the generative artificial intelligence model powering the answers. Either way, “it’s very clear that Google can perform even in the midst of serious regulatory threats to its ads business,” said Evelyn Mitchell-Wolf, digital advertising and media analyst at Emarketer.

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Google to fire more employees as company is spending heavily on AI
3 weeks, 1 day ago

Google to fire more employees as company is spending heavily on AI

India Today  

Google has announced another round of job cuts within its People Operations and Cloud departments, according to a report by CNBC. The tech giant reportedly revealed plans to offer a voluntary exit program for US-based employees in its People Operations division, which oversees human resources functions. This decision follows a larger effort by Google’s finance chief, Anat Ashkenazi, to reduce …

Alibaba to invest over $53 billion in AI over next 3 years in response to Trump's Stargate
3 weeks, 4 days ago

Alibaba to invest over $53 billion in AI over next 3 years in response to Trump's Stargate

Firstpost  

Alibaba’s cloud business has been seeing steady growth, with revenue climbing 13 per cent year-over-year to $4.35 billion in the last quarter. AI-related product revenue has surged for six consecutive quarters, recording triple-digit growth Alibaba has been experiencing a rapid surge in demand for AI-powered solutions, with Wu revealing that since the Chinese New Year, approximately 60-70% of new demand …

Alibaba to invest over $53 billion in AI over next 3 years in response to Trump's Stargate
3 weeks, 4 days ago

Alibaba to invest over $53 billion in AI over next 3 years in response to Trump's Stargate

Firstpost  

Alibaba’s cloud business has been seeing steady growth, with revenue climbing 13 per cent year-over-year to $4.35 billion in the last quarter. AI-related product revenue has surged for six consecutive quarters, recording triple-digit growth Alibaba has been experiencing a rapid surge in demand for AI-powered solutions, with Wu revealing that since the Chinese New Year, approximately 60-70% of new demand …

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 …

Alphabet share price dips 5% this week. Erodes $200 billion Mcap of Google brand owner
1 month, 2 weeks ago

Alphabet share price dips 5% this week. Erodes $200 billion Mcap of Google brand owner

Live Mint  

The multinational technology conglomerate and Google's holding company, Alphabet Inc., shares have lost 5 per cent this week, wiping off nearly $200 billion in market capitalisation, according to stock market data. The results showed that the company's growth slowed down in the Cloud segment compared to the market expectations, and the massive spending structure upset stock market investors as the …

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 …

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 …

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 …

Microsoft’s cloud business powers 10% growth in quarterly profits
7 months, 3 weeks ago

Microsoft’s cloud business powers 10% growth in quarterly profits

Associated Press  

REDMOND, Wash. — Microsoft reported a 10% increase in quarterly profits Tuesday as it tries to maintain its position as a leader in artificial intelligence technology. Microsoft’s growth was led by its cloud computing business, where quarterly revenue rose 19% to $28.5 billion. The Redmond, Washington-based company doesn’t report revenue specifically from AI products but says it has infused the …

Google’s corporate parent still prospering amid shift injecting more AI technology in search
7 months, 3 weeks 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, …

Google Layoffs: Tech Giant Fire Nearly 100 Employees From Cloud Division, Says Report
9 months, 2 weeks ago

Google Layoffs: Tech Giant Fire Nearly 100 Employees From Cloud Division, Says Report

ABP News  

Google Layoffs: Alphabet, Google's parent company, is reportedly laying off multiple employees across several teams within Google’s cloud division, which is one of its fastest-growing sectors. Individuals familiar with the matter told the publication that some of those affected by the layoffs had been involved in planning and executing Google's annual event, Google Cloud Next, which took place in mid-April. …

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 …

What Sundar Pichai said on leadership and Google's ‘AI era’: ‘Secure, reliable, and efficient’
10 months, 3 weeks ago

What Sundar Pichai said on leadership and Google's ‘AI era’: ‘Secure, reliable, and efficient’

Hindustan Times  

Google has been doing it all in the “AI era” to way stay ahead of its competitors as artificial intelligence is now present almost everywhere, becoming an almost indispensable part of our lives. Google CEO Sundar Pichai said, "We have the best infrastructure for the AI era. Google CEO Sundar Pichai talked about leadership and AI's role in the company. …

Alphabet surpasses USD 2 trillion market cap: All you need to know
10 months, 3 weeks ago

Alphabet surpasses USD 2 trillion market cap: All you need to know

India TV News  

Alphabet Inc., the parent company of Google has reportedly reached a milestone by closing more than USD 2 trillion market capitalization for the first time in its lifetime. As per the report, Alphabet's stock reportedly surged by 10 per cent to USD 171.95, marking it as the largest one-day gain since its inception. Joining elite company Alphabet's achievement has placed …

Google stock surges as tech giant announces first cash dividend for investors
10 months, 3 weeks ago

Google stock surges as tech giant announces first cash dividend for investors

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The stock price of Alphabet surged about 16 per cent on Thursday after …

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, 1 week 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 …

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, …

AI companies lose $190 billion in market cap after Alphabet and Microsoft report
1 year, 1 month ago

AI companies lose $190 billion in market cap after Alphabet and Microsoft report

The Hindu  

AI-related companies lost $190 billion in stock market value late on Tuesday after Microsoft, Alphabet and Advanced Micro Devices delivered quarterly results that failed to impress investors who had sent their stocks soaring. The selloff following the tech giants' reports after the bell underscored investors' elevated expectations following an AI-fueled stock market rally in recent months that propelled their shares …

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 …

Google, Amazon continue to invest billions into AI that is supposedly ‘miles better’ than ChatGPT
1 year, 4 months ago

Google, Amazon continue to invest billions into AI that is supposedly ‘miles better’ than ChatGPT

Firstpost  

Google and Amazon are investing billions into an AI programme called Claude that is supposedly much better than OpenAI’s ChatGPT. Amazon had invested over $4 billion, whereas Google has invested over $2 billion, and plans to invest more A couple of days ago, Google announced its intention to invest a substantial sum of up to $2 billion in Anthropic, a …

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 …

Amazon Q2 earnings 2023: Company beats Wall Street’s estimates
1 year, 7 months ago

Amazon Q2 earnings 2023: Company beats Wall Street’s estimates

Live Mint  

Amazon Q2 earnings 2023: Amazon.com Inc on Thursday reported sales growth and profit that beat Wall Street's expectations as the company delivered goods faster and more cheaply to shoppers while recent cloud-computing headwinds began to subside. Brian Olsavsky, Amazon's chief financial officer, said on a call with reporters that faster speeds have meant Prime loyalty customers are "shopping more often." …

Big Tech backs stock gains with solid results, growth prospects
1 year, 7 months ago

Big Tech backs stock gains with solid results, growth prospects

Associated Press  

NEW YORK — Big technology companies provided the energy for most of broader market’s sharp ascent in 2023 and their latest financial reports so far justify that confidence from investors. “In a nutshell, Big Tech earnings have been a flex the muscles moment for the bulls,” said Daniel Ives, a senior equity research analyst at Wedbush, in a research report. …

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 shares surge 5% on AI announcement
1 year, 10 months ago

Google shares surge 5% on AI announcement

Live Mint  

Shares of Alphabet surged around 5% Wednesday after the company made a slew of announcements on artificial intelligence at its I/O developer conference, leading to an overnight surge of $82 billion in its value. Google announced that it is rolling out more artificial intelligence for its core search product and also offered a new version of its namesake engine. The …

Amazon Q1 Earnings Beat Estimates Despite Layoffs, Shares See 11 Per Cent Gain
1 year, 10 months ago

Amazon Q1 Earnings Beat Estimates Despite Layoffs, Shares See 11 Per Cent Gain

ABP News  

Amazon's shares experienced an increase of more than 11 per cent following the announcement of first-quarter earnings that exceeded industry estimates. Amazon's AWS cloud unit, which has maintained its lead in the market for over 15 years, experienced a slower growth of 16 per cent during the first quarter compared to the 37 per cent reported in the previous year. …

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, Microsoft top expectations as AI rivalry heats up
1 year, 10 months ago

Google, Microsoft top expectations as AI rivalry heats up

Live Mint  

Google parent company Alphabet beat market expectations in the first quarter of 2023 with a net profit of $15 billion, the company said on Tuesday, in a sign that the search engine behemoth is regaining its footing. "We'll continue to incorporate generative AI advances to make search better in a thoughtful and deliberate way," Google chief Sundar Pichai said during …

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, …

Google moves AI chip engineering team to Google Cloud
1 year, 10 months ago

Google moves AI chip engineering team to Google Cloud

The Hindu  

The team at Google which was engineering artificial intelligence chips has been shifted to the Google Cloud sector, according to a report by tech outlet The Information, citing a Google spokesperson. Microsoft’s Azure held 21% while Google Cloud captured 11%. Google’s shifting of the AI chip engineering team could be a sign of the company focusing on cloud offerings which …

Google shares drop $100 billion after its new AI chatbot makes a mistake
2 years, 1 month ago

Google shares drop $100 billion after its new AI chatbot makes a mistake

NPR  

Google shares drop $100 billion after its new AI chatbot makes a mistake Enlarge this image toggle caption Dan Kitwood/Getty Images Dan Kitwood/Getty Images Google's parent company, Alphabet, lost $100 billion in market value on Wednesday after its new artificial intelligence technology produced a factual error in its first demo. In the fateful ad that ran on Google's Twitter feed …

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-Parent Alphabet Bets Big On AI, Set To Roll Out ChatGPT Rival Soon
2 years, 1 month ago

Google-Parent Alphabet Bets Big On AI, Set To Roll Out ChatGPT Rival Soon

ABP News  

Google-parent Alphabet has reported $76 billion in revenue for its fourth quarter that ended December 31, up 1 per cent, as it now bets big on AI. "Our long-term investments in deep computer science make us extremely well-positioned as AI reaches an inflection point, and I'm excited by the AI-driven leaps we're about to unveil in Search and beyond," said …

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 …

Alphabet To Slash Headcount Growth By Half In Q4 As Revenue Grows At Slowest Pace
2 years, 4 months ago

Alphabet To Slash Headcount Growth By Half In Q4 As Revenue Grows At Slowest Pace

ABP News  

Sundar Pichai, chief executive officer of Alphabet, has said that his firm is planning to scale down the rate of hiring in Q4 of 2022 and for 2023 as the tech giant’s Q3 revenue grew at its slowest pace in more than two years, reported by CNBC. Shares of Alphabet sank about 7 per cent in extended trading on Tuesday …

Google parent Alphabet's miss fans inflation fears across digital advertising
2 years, 4 months ago

Google parent Alphabet's miss fans inflation fears across digital advertising

The Hindu  

Google parent Alphabet Inc.'s disappointing ad sales sparked worries across the digital media sector on Tuesday as advertisers cut back on their spending in the face of an economic slowdown. The negative results shattered many expectations that Google, which is the world's largest digital advertising platform by market share, would remain strong in a weakening economy and reinforced worries on …

Google’s ad sales slow dramatically, eroding parent’s profit
2 years, 4 months ago

Google’s ad sales slow dramatically, eroding parent’s profit

Associated Press  

SAN FRANCISCO — Summertime revenue growth at Google’s corporate parent slipped to its slowest pace since the pandemic jarred the economy more than two years ago, with advertisers clamping down on spending and bracing for a potential recession. Alphabet Inc., which owns an array of smaller technology companies in addition to Google, on Tuesday posted revenue of $69.1 billion for …

Google-parent Alphabet misses estimates for quarterly revenue
2 years, 4 months ago

Google-parent Alphabet misses estimates for quarterly revenue

Live Mint  

Google parent Alphabet Inc missed Wall Street estimates for quarterly revenue on Tuesday as advertisers cut back on their spending in the face of an economic slowdown. Last week, smaller rival Snap Inc's slowest-ever revenue growth rate sent inflation fears through tech sector and temporarily wiped out $40 billion in market capitalization. Google's advertising revenue was $54.48 billion in the …

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