Tag Archives: billion

After a record-breaking 2021 with annual revenue of $257 billion — the first time it has gone over $200 billion for a year — Google’s parent company reports in a filing (pdf) that it has started off 2022 with Q1 revenue that’s up 23 percent from the same period last year, reaching $68 billion. However, with expenses up compared to 2021, its net profit actually dropped to $16.4 billion compared to last year’s $17.9 billion. In an accompanying statement, Google and Alphabet CEO… Source link

(Bloomberg) — Tesla Inc. is on pace to wipe off over $100 billion from its valuation in a single session Tuesday with the stock down more than 11% on investors’ concern that Elon Musk may sell shares to complete his $44 billion takeover of Twitter Inc. Most Read from Bloomberg The electric-vehicle maker’s market capitalization is already down nearly $250 billion since April 4, when Musk disclosed that he increased his Twitter stake. That’s a drop of roughly 23%. The dollar value of… Source link

(Bloomberg) — Wall Street’s favorite FAANG is mired in its worst monthly stock performance in two years and analysts are counting on earnings to pull it out of the tailspin. Most Read from Bloomberg Google owner Alphabet Inc. is down about 13% in April, erasing $237 billion in market value as jittery investors dump growth stocks amid fears of bigger and faster rate hikes thanks to rising inflation. One constant in the turmoil: analysts’ enthusiasm, with zero sell and hold recommendations… Source link

(Bloomberg) — Billionaire entrepreneur Elon Musk agreed to buy Twitter Inc. for $44 billion, using one of the biggest leveraged buyout deals in history to take private a 16-year-old social networking platform that has become a hub of public discourse and a flashpoint in the debate over online free speech. Most Read from Bloomberg Investors will receive $54.20 for each Twitter share they own, the company said in a statement Monday. The price is 38% more than the stock’s close on April 1, the… Source link

(Bloomberg) — Twitter Inc. is in the final stretch of negotiations about a $43 billion sale to Elon Musk that could rank as one of the biggest-ever leveraged buyouts of a listed company, people with knowledge of the matter said, placing an influential blogging platform under control of the world’s richest person. Most Read from Bloomberg An agreement would cap a monthslong saga that saw Musk amass a stake of about 9%, launch a fusillade of criticism at Twitter’s management, turn down a… Source link

(Bloomberg) — Blackstone Inc. agreed to buy PS Business Parks Inc. for about $7.6 billion, expanding its bets on real estate across the U.S. Most Read from Bloomberg Affiliates of Blackstone Real Estate will buy Glendale, California-based PSB for $187.50 a share in cash, according to a statement Monday. The price is roughly a 12% premium to PSB’s closing price on Friday. Under the deal, Blackstone agreed to take over approximately 27 million square feet of industrial and office properties,… Source link

Yichuan Cao/NurPhoto via Getty Images Twitter officials are expected to meet Sunday to re-examine Musk’s offer to buy the company, WSJ reported. The company last week filed a shareholder rights plan or “poison pill” to prevent a hostile takeover by Musk. The Tesla CEO confirmed $46.5 billion in financing from banks and other entities in a regulatory filing earlier this week. Twitter is reportedly reconsidering Elon Musk’s bid to purchase the social platform, The Wall Street Journal… Source link

Twitter may be warming up to the idea of selling itself to . According to , the company is re-examining Musk’s takeover bid after the billionaire he had the financial backing to get the deal done. When Musk first announced he was ready to pay to buy the social media giant, noting at the time it was his “best and final offer,” Twitter was widely expected to reject the proposal. The company even went so far as to adopt a so-called “” strategy to ward off a hostile takeover… Source link

IDAHO — On April 13, Google released its Economic Impact Report for Idaho, sharing in a press release that it helped provide $1.11 billion of economic activity in 2021 for thousands of Idaho businesses, publishers, nonprofits, creators and developers who used Google products to increase their online presence and connect with the people and communities they serve. More than 119,000 Idaho… Source link

By Jonathan Stempel NEW YORK (Reuters) – Warren Buffett needed just two weeks to put together Berkshire Hathaway Inc’s $11.6 billion takeover of Alleghany Corp, its largest acquisition in six years, even as he balked at paying the insurer’s banking fee, a regulatory filing on Monday shows. Alleghany said its Chief Executive Officer Joseph Brandon met with Buffett for dinner in New York City on March 7, where after some “casual conversation” Buffett offered $850 per share in cash for the… Source link