Tag Archives: Profits

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

The Google app logo is seen on a smartphone in this picture illustration taken September 15, 2017. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Summary Law firms Related documents Proposed class action says Google misuses restaurant names to divert delivery orders Restaurants say they never authorized Google to sell their food (Reuters) – Alphabet Inc’s Google has been making unauthorized pages for restaurants and using them to take a cut of fees… Source link

A “Google tax” introduced by the coalition government to crack down on multinationals shifting profits overseas has been criticised as a “total failure”, as new documents show it is predicted to raise no money over the next six years. The diverted profits tax, introduced in 2015, was hailed as a pioneering effort to tackle multinationals who were reducing their UK corporation tax by shifting profits overseas. It was predicted by officials that the tax would raise up to £400m a year,… Source link

Every year, Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) pays for the placement of Google as the default search engine in web browsers. It files those payments under “traffic acquisition costs,” or TAC, on its income statement. Last year, Alphabet paid nearly $33 billion in TAC, and one company benefited greatly from those payments: Apple (NASDAQ:AAPL). Apple collected around $10 billion in TAC payments last year, according to estimates from Bernstein… Source link

Apple and Google hired a bevy of lobbyists in Arizona in early 2021 to kill legislation that would have slashed the profits the companies make through their app stores.  Rep. Regina Cobb was subjected to a flood of text messages and phone calls from those lobbyists in February when she authored an amendment that would have barred Apple and Google from forcing developers to route all in-app payments through their platforms — a policy that lets the tech… Source link

Bitcoin crested above $50,000 on Monday, benefiting from simultaneous supply chain shortages and a crackdown from Chinese regulators – putting bitcoin mining on par with profits near the coin’s April all-time-high.  Now, building infrastructure for the energy-intensive business poses the greatest challenge for companies and individuals hoping to reap big money. That means finding cheap and reliable energy sources, striking deals and building out mining facilities. “Throughout the summer,… Source link

Alphabet, Google’s parent company, just made in three months what it took until recently an entire year to earn. That is a level of growth that companies of its size rarely if ever achieve, but the pandemic has erased all the limits for tech firms. The search and advertising company on Tuesday reported record profits and revenue for the second quarter, vindicating the enthusiasm of investors who doubled its value on the stock market since early last year. The stellar results pushed shares… 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

As lawmakers and advocacy groups continue to push for $50,000 in student debt cancellation, Senate Majority Leader Chuck Schumer expressed shock over the interest rates that borrowers are being charged by the government. “The federal government is charging our students and those who have student debt 7% interest,” Schumer (D-NY) said during a press conference organized by Student Debt Crisis, an advocacy group. “You know, I’m from Brooklyn, I’d use a curse word before that 7% … can you… Source link

The Telegraph Exclusive: Charity conducting ‘campaign of harassment’ against sites that raise money for hunts An anti-hunting charity has been accused of bullying in a “campaign of harassment” against auction sites used to raise money for hunts and hounds. The League Against Cruel Sports has been reported to the Charity Commission for “demanding with menaces” that a fundraising platform cut ties with legally registered hunts. The regulator was assessing the complaint, a spokesman… Source link