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The internet giant on Thursday reported nearly $38.3 billion in revenue for the second quarter, down 2% from the year prior. Still, revenue was slightly higher than the $37.4 billion Wall Street analysts had expected. The company posted net income just shy of $7 billion, which also beat analysts’ projections. “We continue to navigate through a difficult global economic environment,” Alphabet CFO Ruth Porat said in a statement with the earnings report. Source link

Google parent company Alphabet warned in last quarter that it was expecting to see the impact of coronavirus in the second quarter results, and it was: the company saw its first revenue decline in its history. But it managed to beat Wall Street’s revenue expectations. Total revenue for the quarter was $38.3 billion, versus the $37.4 billion expected, but that marks a 2 percent decline from the second quarter of 2019. Net income dropped from $9.9 billion a year ago, to $6.9 billion…. Source link

Apple (AAPL) reported its Q3 2020 earnings on Thursday, surpassing expectations for the period. These are the most important numbers from the report compared to what analysts were expecting as compiled by Bloomberg. Revenue: $59.7 billion versus $52.3 billion expected Earnings per share: $2.58 versus $2.07 expected iPhone revenue: $26.42 billion. Services revenue: $13.2 billion versus $13.1 billion expected Accessories: $6.5 billion versus $6.1 billion expected Apple’s quarter was far outpaced… Source link

(Credit: Google) Google appears ready to debut the much-rumored Pixel 4a on August 3. On Thursday, the company’s “Made by Google” social media accounts on Facebook and Twitter were updated to show a new background image mentioning the phone, which was spotted by 9to5Google.  The company has also created a special web page on the Google Store that reveals a little more—after you solve a puzzle. The company covered the remaining words to this phrase, “The Google ___ ____ ____ ____… Source link

The extra $600 in weekly unemployment benefits provided the federal government to Americans amid the coronavirus pandemic is expected to expire after Friday as Congress struggles to agree upon the next stimulus package. A few Republican senators are pitching a last-minute proposal. U.S. Senators Mitt Romney (R-UT), Susan Collins (R-ME), and Martha McSally (R-AZ) introduced an alternative unemployment benefits (UI) legislation on Thursday aiming to prevent a gap in the distribution of the… Source link

Thursday, July 30, 2020 4:24 p.m. EDT by Thomson Reuters By Paresh Dave and Munsif Vengattil OAKLAND, Calif./BENGALURU (Reuters) – Google parent Alphabet Inc’s quarterly sales fell for the first time in its 16 years as a public company, but the decline was less than expected as many advertisers stuck with the most popular online search engine during the pandemic. Shares of Alphabet fell 1.2% to $1,518.85 after it released the… Source link

Google announced Tuesday that it is planning to lay a new trans-Atlantic underwater cable that it claims will ensure a significant upgrade to the U.S.-Europe Internet infrastructure. Source link

The SEC is delaying the start of its college football season. The conference announced Thursday that it’s implementing a 10-game conference-only schedule for each team similar to the ACC, Big Ten and Pac-12. But unlike those three conferences, the SEC is also moving the start of football season back. The first SEC games will kick off on Sept. 26, three weeks after the original Week 1 start date on Labor Day weekend. The delay means that the SEC Championship Game won’t be played until Dec…. Source link

Life won’t start looking normal for most Google employees before next July, the earliest the company expects its workforce to be able to return to its offices. Yet Google is resuming some suspended business functions, including a high-stakes review cycle that has made at least one group of employees—parents—particularly anxious.   Many Google employees who have kids said they expect the upcoming assessments to show that their job performance suffered in recent… Source link

The economy is “leveling off,” following the worst drop in GDP on record amid the pandemic, says Mohamed El-Erian, chief economic advisor at Allianz. “It is the square root”–shaped recovery, El-Erian told Yahoo Finance’s On The Move. The economy contracted 32.9% in the 2nd quarter amid COVID related shutdowns, and then initially came back strongly as seen in last month’s jobs report and the initial improvement in jobless claims. “Now we’e getting the leveling off,” said… Source link