alphabet

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, posted revenue of $69.1 billion for the July-September quarter, a 6 percent increase from the same time last year. It marked the first time Alphabet's year-over-year quarterly revenue has risen by less than…

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, which owns an array of smaller technology companies in addition to Google, on Tuesday posted revenue of $69.1 billion (roughly Rs. 5.6 lakh crore) for the July-September quarter, a 6 percent increase from the same time last year.It marked the first time Alphabet's year-over-year quarterly…

With just over two months before the new corporate minimum tax is set to go into effect, companies are asking the U.S. government for guidance on its scope and the potential impact of business transactions such as split-offs.From Jan. 1, 2023, the tax will apply to large U.S. companies averaging at least $1 billion in publicly reported annual profit over three years. The tax, which is part of the climate, healthcare and tax law called the Inflation Reduction Act, requires those businesses to calculate their taxes with the…

Google parent Alphabet Inc's disappointing ad sales sparked worries across the digital media sector as advertisers cut back on their spending in the face of an economic slowdown. Alphabet called out slowing spending by advertisers on YouTube, said financial services spending was cooling on Google, and plans to cut hiring by more than half. 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…

The logo of Alphabet Inc's Google outside the company's office in Beijing, China, August 8, 2018.Thomas Peter | ReutersCheck out the companies making headlines after hours.Alphabet — The search engine parent dropped 5.8% after Alphabet missed third-quarter earnings expectations, and reported a decline in YouTube ad revenue. Alphabet earned $1.06 per share on revenue of $69.09 billion. Analysts surveyed by Refinitiv were forecasting $1.25 earnings per share on revenue of $70.58 billion.Microsoft — Shares slipped 2.7% after…

Google reported its fifth consecutive quarter of slowing sales growth as weakness in the economy continued to damp online advertising spending.The results showed surprising weakness in some of Google’s core properties, including YouTube and search, which have long been drivers of the company’s overall performance and helped patch over issues with other slower-growing units. Alphabet Inc., GOOG 1.90% Google’s parent company, reported revenue of $69.1 billion in the third…

Shares of Snap sank about 25 percent before the bell on Friday, after the owner of photo messaging app Snapchat forecast zero revenue growth for the current quarter, triggering a slide in other social media stocks dependent on advertising revenue.YouTube-parent Alphabet, Facebook-parent Meta Platform, Pinterest and Twitter all slid between 1.7 percent and 9.2 percent in premarket trade."We believe Snap is facing increased competition, primarily from TikTok, both for time spent and increasingly for ad dollars, which is…

CNBC's Jim Cramer on Friday told investors that stocks will likely continue to do well as long as the economy holds up."Many companies have battened down the hatches, so to speak, and prepped for a recession. So if we don't get a severe slowdown, they will indeed keep flying," he said.He also previewed next week's slate of earnings. All earnings and revenue estimates are courtesy of FactSet.Monday: LogitechQ2 2023 earnings release at 9 p.m. ET; conference call on Tuesday at 8:30 a.m. ETProjected EPS: 85 centsProjected…

The Texas attorney general sued Alphabet Inc.’s GOOG 0.18% Google on Thursday, alleging the search giant violated state laws by collecting biometric data on face and voice features without seeking the full consent of users. Texas alleged Google’s data-collection practices stretched back to 2015 and affected millions of the state’s residents, according to a complaint filed in state district court in Midland County, Texas.…

The U.K.’s top competition authority said that Facebook META 0.71% owner Meta Platforms Inc. META 0.71% must sell social-media animated-images company Giphy, affirming an earlier ruling that its 2020 acquisition of the company could limit competition. The ruling all but ends a yearslong saga in which a foreign regulator made a rare intervention in an already-consummated deal between…