The European Commission has fined Google 890 million euros ($1 billion) for giving preferential treatment to its own services like shopping and hotels in search results, violating the EU's Digital Markets Act (DMA). The DMA aims to regulate Big Tech's practices in Europe to ensure fair competition. The Commission also found Google breached rules by restricting app developers from promoting alternative offers outside the Google Play Store. Google has been ordered to treat third-party services fairly in search and allow app developers to communicate offers beyond the Play Store.
Alphabet reported strong Q2 results with 24% year-over-year revenue growth and a 300% surge in net income. The market reacted negatively due to increased AI capital expenditures and negative free cash flow, but these investments are seen as strategic...
The European Union fined Google 890 million euros ($1 billion) for breaching digital antitrust rules by steering users towards its own services via Google Play and its search engine, disadvantaging competitors. This follows a previous $4.5 billion fi...
Alphabet reported a larger-than-expected increase in capital spending for the recent quarter, leading to mixed market reactions. Barclays raised its price target on Alphabet from $405 to $425, citing strong AI leadership despite rising costs, while E...
Google's stock fell 3.31% after its Q2 earnings report showed a slight miss on earnings per share ($2.85 vs. $2.89 expected) despite beating revenue estimates. The company also raised its capital expenditure forecast to $195-$205 billion, signaling i...
Tesla and Alphabet both reported increased spending on artificial intelligence, causing their shares to fall in premarket trading. Alphabet raised its capital expenditure forecast to $195-205 billion for the year, citing the need to meet growing AI d...
