Google-parent Alphabet tops expectations with $18.9 bn quarterly profit

Google's genitor institution Alphabet connected Tuesday bushed quarterly net expectations, raking successful $18.9 cardinal successful nett arsenic its online advertisement motor and unreality services thrived.

Google remains a centerpiece of online activity, with offerings specified arsenic its search engine, advertisement marketplace, and YouTube video level that springiness it extended planetary influence.

Alphabet gross of $65.1 cardinal successful the recently-ended 4th eclipsed the aforesaid play past twelvemonth by immoderate 41 percent, according to the tech titan.

"This quarter's results amusement however our (artificial intelligence) investments are enabling america to physique much adjuvant products for radical and our partners," said Sundar Pichai, CEO of Alphabet and Google.

"As the integer translation and displacement to hybrid enactment continue, our Cloud services are helping organizations collaborate," helium added.

The surge successful Alphabet's net comes arsenic the tech elephantine faces accrued scrutiny from regulators regarding its power.

Google is among internet giants successful the crosshairs of regulators and critics acrophobic astir whether they unfairly predominate markets and fend disconnected competition.

South Korea's antitrust watchdog fined Google astir $180 cardinal successful September for abusing its dominance successful the mobile operating systems and app markets, it said, the latest successful a bid of regulatory moves against tech giants astir the world.

Google besides reportedly faces the menace of a caller antitrust suit from US officials implicit the Silicon Valley giant's powerfulness successful the online advertizing market.

The latest figures physique connected the pandemic inclination that has seen an acceleration successful radical utilizing the net for shopping, work, learning and entertainment.

Alphabet reported quarterly nett successful July that had astir tripled, arsenic wealth poured successful from ads connected its hunt motor and YouTube video platform.

One country the elephantine has struggled is the smartphone handset market, and successful October Google launched caller Pixel 6 smartphones, its latest effort to tract a champion.

Smartphone income are dominated by Apple and South Korean electronics colossus Samsung, but Google is aiming to grow its single-digit marketplace stock with the newest Android-powered Pixel line.

Google touted the phones arsenic wholly "reimagined" during a presumption successful which it pointed to security, speed, benignant and blase bundle capabilities.

Samsung was the apical smartphone vendor with 23 percent of the market, portion Apple was 2nd with 15 percent and Chinese steadfast Xiaomi connected its heels with 14 percent, Canalys reported.

---

---

© 2021 AFP