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Alphabet, the parent company of search giant Google (GOOG, GOOGL) blew away Wall Street’s second quarter estimates on Tuesday, bolstered by strength in advertising and cloud computing. Here were the main results from Alphabet’s report, compared to consensus estimates compiled by Bloomberg: Thanks to the tech giant’s linchpin, Google Search, ad revenues skyrocketed by 69% from the comparable year ago quarter. Overall total revenue soared by 62% from Q2 of 2020. During the quarter, “there was a… Source link

Google parent Alphabet posted $50.44 billion in sales from advertising, a 69% increase helped by a red-hot U.S. market where ad-spending is on track to be the fastest in the postwar era. YouTube’s ad business collected $7 billion in revenue, increasing 84% from a year earlier. The expected results should deepen investor confidence that Alphabet emerged stronger after the Covid-19 pandemic accelerated e-commerce purchases, online food orders and streaming video consumption, analysts say…. Source link

Last quarter, Google roared out of the post-pandemic-peak period with a record $17.9 billion in profit, finally joining other tech giants that had been raking it in despite (or perhaps because of) the rise of COVID-19. But Alphabet’s Q2 2021 earnings do it one better — the company just set an all-time record revenue of $61.9 billion this quarter, and record profits for the fourth quarter in a row at $18.5 billion. Some of the numbers the company’s posting today (PDF) are nearly… Source link

By Sheila Dang, Nivedita Balu (Reuters) -Google parent Alphabet Inc’s quarterly revenue and profit surged to record highs, the company reported on Tuesday, powered by a rise in advertising spending as more consumers shopped online. Shares of Alphabet, the world’s largest provider of search and video ads, rose 3.3% in extended trading after the results, which handily beat analyst estimates. Shares of Facebook, which competes with Google in web ad sales and reports its own results on… Source link

In Silicon Valley, Google has acquired billions of dollars of property that’s at risk for flooding as sea levels continue to rise. That’s raising questions about whether it’s safe to build at all. Source link

Google CEO Sundar Pichai Getty Images Alphabet reported Q2 2021 earnings after the bell. The stock rose more than 4% on the strong numbers, which crushed analyst expectations. Here are the results. Earnings per share (EPS): $27.26 vs $19.34 per share, according to Refinitiv estimates. Revenue: $61.88 billion vs $56.16 billion, according to Refinitiv estimates. YouTube advertising revenue: $7.00 billion vs $6.37 billion expected, according to StreetAccount estimates. Google Cloud revenue:… Source link

Enlarge / Google Cloud Platform, no longer perpetually under construction? Google’s reputation for aggressively killing products and services is hurting the company’s brand. Any new product launch from Google is no longer a reason for optimism; instead, the company is met with questions about when the product will be shut down. It’s a problem entirely of Google’s own making, and it’s yet another barrier that discourages customers from… Source link

Tesla (TSLA) beat analysts’ expectations when it reported earnings Monday afternoon, posting a profit of $1.1 billion and making a record-setting number of deliveries for the quarter. But one analyst told Yahoo Finance that the electric car company still has more room to grow next year. Deutsche Bank Lead Tech and Auto Technology Analyst Emmanuel Rosner noted that Tesla worked relentlessly to cut the costs of its vehicles and to offer cutting-edge battery technology.  “We truly think this is… Source link

According to the CDC, “the United States is once again seeing a rise in COVID-19 cases, hospitalizations, and deaths.” CDC data shows that as of July 22, 35% of counties across the country are experiencing “high levels” of transmission. “COVID-19 cases are on the rise in nearly 90% of U.S. jurisdictions, and we are seeing outbreaks in parts of the country that have low vaccination coverage,” the CDC noted. National Institutes of Health head Dr. Anthony Fauci expressed frustration… Source link

Democratic lawmakers continue to pressure President Biden to extend the student loan pandemic payment pause and enact student loan forgiveness. “Tick tock, tick tock — over 30 million Americans will have a bill coming due in about two months,” said Senator Elizabeth Warren (D-MA) during a press conference. “The payment pause is running out on student loan debt payments. The size of these payments for many borrowers is the size of their rent, their car payments, groceries, child care —… Source link