Google parent Alphabet announces stock buyback after modest beat on ad sales April 26, 2023 Alphabet Inc said on Tuesday it would buy back $70bn (£56.3bn) in stock and posted first-quarter profit and revenue above estimates as demand rose for cloud services and ad sales held up better than expected. Investors cheered the buyback plan, sending shares of the Google parent as much as 4 per cent higher in after-hours trade before [...]
Betting firms face new tax to fund gambling addiction support, leaked report says April 6, 2023 Betting firms may have to pay a new tax to fund support for gambling addicts, according to leaked details of the government’s upcoming gambling white paper. The exact rate has not been specified, but according to a report in The Sun, which published leaked details of the white paper late last night, said it could [...]
Google: Alphabet’s shares tank eight per cent after video blunder involving its version of ChatGPT February 9, 2023 Google’s parent company Alphabet’s shares plummeted yesterday after its brand new AI chatbot answered a question wrong during a promotional video. The owner of Google saw shares crash almost eight per cent on Wednesday, causing a $100bn (£82bn) loss to its value. This comes after Alphabet announced that Google would be launching an integrating its [...]
Apple’s first reported revenue drop in four years adds to tech woes with Google also reporting a decline in sales February 3, 2023 Apple posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone . The company’s sales of $117bn (£96bn) between October and December period were down five per cent on the same quarter the previous year, a deeper downturn than analysts had projected. [...]
Google: Parent firm Alphabet announces 12,000 sackings worldwide as CEO Sundar Pichai takes ‘full responsibility’ January 20, 2023 Google’s parent company Alphabet has become the latest Silicon Valley powerhouse to announce a raft of redundancies across its global workforce. The tech giant said today that it would cut six per cent of its global workforce, around 12,000 people worldwide. “I take full responsibility for the decisions that led us here,” chief executive Sundar [...]
Google slows down hiring for rest of 2022 amidst economic uncertainty July 13, 2022 Google will slow hiring for the rest of the year as economic gloom sets in. Sundar Pichai, CEO of Google parent company Alphabet, informed employees in an email yesterday, according to CNBC. “The uncertain global economic outlook has been top of mind,” he said. “Like all companies, we’re not immune to economic headwinds.” The company [...]
Tech stocks in a valley February 4, 2022 Just when Silicon Valley thought things couldn’t get any worse, they did. Meta tanked over 25 per cent on Wall Street yesterday, losing around $200bn (£147bn) in value, dragging the tech-heavy Nasdaq down along with it.
Google’s owner Alphabet smashes expectations for revenue and profit October 26, 2021 Google’s owner Alphabet smashed expectations in its third quarter results, chalking up its third straight quarter of record profit and $65.5bn in revenues against Wall Street estimates of $63.3bn. The tech giant banked a $18.9bn net profit – or earnings per share of $27.99, up from $11.2bn for the same period last year. “Our consistent [...]
Google pushes back office return to January as Covid cases surge August 31, 2021 Google has pushed back on plans for a full return to the workplace and extended its voluntary return-to-office policy through to January next year, amid concerns over rising Covid cases in some locations around the world. “Beyond January 10, we will enable countries and locations to make determinations on when to end voluntary work-from-home based [...]
SoftBank ramps up exits to fund prolific Vision Fund dealmaking August 18, 2021 The Japanese investment giant sold around $14bn worth of listed stocks last quarter, marking a change in its exit-hesitant strategy in order to fund its Vision Fund’s accelerating investments in tech startups. SoftBank sold an estimated $14bn worth of listed stocks in the last quarter – almost triple that of the previous period, according to [...]