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The Guardian Alphabet: revenue soared for Google owner as Covid brought more people online Company exceeded Wall Street’s expectations with $55bn in revenue, even as it continued to face landmark antitrust lawsuits Alphabet, the Google parent company, saw revenue jump 34% from a year ago. Photograph: Marcio José Sánchez/AP Google’s parent company, Alphabet, reported record profits for the second consecutive quarter and a 34% jump in revenues but warned bumper traffic and ad sales during… Source link

Bloomberg Oil Crown Jewels No Longer Off Limits in Mideast Amid Deal Surge (Bloomberg) — Time was when the Middle East’s petrostates recoiled from using their crown jewels to raise money from foreign investors.Not any more. In the space of a few weeks, Saudi Arabia, the United Arab Emirates, Qatar, Oman and Kuwait have all accelerated multi-billion-dollar plans to sell energy assets or issue bonds off the back of them. Capping that trend, Saudi Crown Prince Mohammed bin Salman said Tuesday… Source link

Bloomberg Microsoft Sales Jump on Cloud; Shares Slip on Lofty Forecast (Bloomberg) — Microsoft Corp. reported quarterly sales and profit that topped analysts’ estimates for a ninth straight quarter, lifted by booming cloud-computing demand. This time, investors weren’t satisfied.Sales in the period ended March 31 rose to $41.7 billion, the Redmond, Washington-based software maker said Tuesday in a statement. That compared with the $41.1 billion average estimate of analysts polled by… Source link

Bloomberg Saudi Arabia in Talks to Sell Aramco Stake to Global Energy Firm (Bloomberg) — Saudi Arabia’s crown prince said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast a rebounding economy in the aftermath of the coronavirus pandemic.The kingdom is looking at the potential sale — which could be worth about $19 billion, based on the company’s market value — as a way to lock in customer demand for the… Source link

There are over 1,500 players in the college basketball transfer portal this year, more than twice the number of players last season. The overwhelming number of players transferring comes from a decision from Due to COVID-19, seniors were also granted an additional year of eligibility, making the transfer portal much more competitive. “The new transfer rule has created a lot of chaos for coaches this offseason,” one Big 12 assistant told Yahoo Sports. “It’s all about retaining talented… Source link

Mike Blake/Reuters The head of the U.S. Post Office law enforcement division running a covert social media collection program is expected to brief lawmakers on the House Oversight Committee Wednesday morning about its surveillance work. Yahoo News last week revealed the existence of the U.S. Postal Inspection Service’s Internet Covert Operations Program, known as iCOP, which has been monitoring social media for information about political protests. The work involves having analysts trawl… Source link

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TipRanks Raymond James: These 3 Stocks Have Over 100% Upside on the Horizon We’re now in the heart of earnings season, and investors are paying close attention as companies report their financial results from the first quarter of 2021. It’s a routine, in some ways, but in others, there has never been an earnings season quite like this. It’s the first one post-pandemic, but perhaps more importantly, the results are coming out during a time of nearly unprecedented government stimulus… Source link

Google parent Alphabet Inc. rang up record profits for a third straight quarter during the pandemic, catapulting shares 5% to a 52-week high in after-hours trading Tuesday. The search-engine behemoth  GOOGL, -0.82% GOOG, -0.84% reported net income of $17.93 billion, or $26.29 a share in its fiscal first quarter, compared with net income of $6.84 billion, or $9.87 a share, in the year-ago quarter. Revenue after… Source link

Google’s parent company, Alphabet, said on Tuesday that revenue in its most recent quarter increased sharply from the same period a year ago, boosted by strong demand for online advertising on its search results and YouTube videos and by continued growth at its cloud computing arm. Alphabet posted revenue of $55.31 billion, up 34 percent from a year earlier, and net profit more than doubled to $17.93 billion in the first quarter. It was the third straight quarter of record profit for the… Source link