[SAN FRANCISCO] Google parent Alphabet's stock price leapt on Thursday after reporting stronger-than-expected results in a quarterly update coming amid growing scrutiny of technology firms by antitrust regulators. Read more at The Business Times.
Google parent Alphabet's stock price leapt on Thursday after reporting stronger-than-expected results in a quarterly update coming amid growing scrutiny of technology firms by antitrust regulators.[SAN FRANCISCO] Google parent Alphabet's stock price leapt on Thursday after reporting stronger-than-expected results in a quarterly update coming amid growing scrutiny of technology firms by antitrust regulators.
Also helping shares was an announcement that the company would spend an additional US$25 billion on stock buybacks.Profits were sharply higher than the same period last year when Google was forced to pay a US$5 billion fine to settle antitrust actions in the European Union.The strong results come with Google expected to face tough scrutiny in the United States where antitrust regulators have begun a review on online platforms over competition concerns.
Google has denied abusing its position and an executive told lawmakers at an antitrust hearing this month that the company has"helped reduce prices and expand choice for consumers and merchants in the US and around the world."
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