Tag Archives: Profits

Google earnings: 100 million Google One subscribers, Google Cloud profits

Google earnings: 100 million Google One subscribers, Google Cloud profits

Alphabet’s earnings call was yesterday, and as usual, the company took in a lot of money ($86.31 billion), thanks mostly to ad click-through rates being at a certain level. More interesting, though, are the product numbers tucked away in the report. For the good news, a big announcement was the success of one of Google’s biggest subscription plans, Google One, which CEO Sundar Pichai said is “just about to cross 100 million… Source link

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Yandex’s Q2 profits fall as costs rise versus 2022 ‘anomaly’

Yandex’s Q2 profits fall as costs rise versus 2022 ‘anomaly’

By Alexander Marrow and Gleb Stolyarov (Reuters) -Russian tech giant Yandex reported a 27% fall in second-quarter profits on Thursday as costs rose from a year earlier when the company tightened spending in the immediate aftermath of Russia’s invasion of Ukraine. Often dubbed “Russia’s Google”, Yandex has struggled to balance domestic pressures with the interests of its Western investors since Russia sent troops into Ukraine in February 2022. Yandex’s adjusted net income dropped to 9.6 billion… Source link

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Google Cloud’s Top U.S. Sales Execs Depart in Shakeup as Profits Remain Elusive — The Information

Google Cloud’s Top U.S. Sales Execs Depart in Shakeup as Profits Remain Elusive — The Information

Google’s cloud computing unit on Thursday made sweeping changes to its leadership, including replacing its top U.S. sales executive and one of her lieutenants, according to people with knowledge of the situation. The changes, announced to employees, include the departure of Kirsten Kliphouse, the top U.S. sales executive. She is being replaced by Adaire Fox-Martin, previously the president of Google Cloud International and the head of Google’s Ireland office. Fox-Martin, who joined… Source link

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‘Organized retail crime’ drove astounding $400 million loss in profits this year

‘Organized retail crime’ drove astounding $400 million loss in profits this year

Target stores are getting looted, and it’s taking a huge bite out of profits. The discount retailer told reporters on a call to discuss its third quarter earnings results that inventory shrinkage — or the disappearance of merchandise — has reduced its gross profit margin by $400 million so far in 2022. “There’s a handful of things that can drive shrink in our business and theft is certainly a key driver,” Target CFO Michael Fiddelke said. “We know we’re not alone across retail in seeing a… Source link

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Retailer becomes latest to badly whiff on profits as recession fears rise

Retailer becomes latest to badly whiff on profits as recession fears rise

Best Buy has become the latest big-name retailer to badly overestimate consumer demand as recession fears mount and shoppers pullback on discretionary purchases. The electronics retailer slashed both its second-quarter and full-year financial forecasts late Wednesday, sending shares lower by 4% in after-hours trading. Best Buy’s downward revisions are tough on the eye to say the very least: 2Q Same-Store Sales: -13% (previous: about -8%) 2Q Operating Margin: 3.7% (vs. 6.9% in second quarter of… Source link

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