Google-parent Alphabet Inc beat Wall Street estimates for quarterly revenue on Thursday, benefiting from advertisers spending more on its search ...
REUTERS: Alphabet Inc reported quarterly revenue and earnings that beat expectations on Thursday, easing concerns about the short-term growth challenges facing Google, YouTube and the company's other advertising businesses even as it faces antitrust investigations.
Alphabet generates about 85 percent of its revenue from tools used in online advertising or the ad space itself. Ad clicks on Google's properties rose 6per cent compared to the first quarter, when they had fallen 9per cent. The number of ads shown on websites and app with which Google partners held steady compared to last quarter.
Shares of the company have lagged its peers this year, rising about 10per cent, compared to about 20per cent growth for the S&P 500 members broadly. Facebook Inc, along with the release of its earnings on Wednesday, said the FTC had informed it last month that it was under antitrust investigation. Tthe social media giant also acknowledged a broad U.S. Department of Justice antitrust review of large internet companies.Antitrust complaints lodged against Google by rivals and other critics span its advertising, app store, search and other businesses.
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