‘Return To Mean?’: Alphabet Joins Tech Companies Reporting Profits Slump

Google’s parent company Alphabet has released its Q2 results, joining the list of tech companies that have underperformed against expectations. It recorded around $16bn in profit during Q2, down from $18.5bn year-on-year. Google delivered a 13% increase in revenue over the same period in 2021, and its products all tell different stories. Search and YouTube … Read more

When Posts First Revenue Drops as Inflation Throttles Ad Sales

Meta Platforms Inc. issued a gloomy forecast after recording its first ever quarterly drop in revenue Wednesday, with recession fears and competitive pressures weighing on its digital ads sales. Shares of the Menlo Park, California-based company were down about 4.6% in extended trading. The company said it expected third-quarter revenue to be in the range … Read more

CNA Explains: What does Indonesia’s new licensing rules mean for tech companies?

JAKARTA: Indonesia has asked technology companies, both at home and overseas, to register themselves by Wednesday midnight (Jul 27) if they want to continue to operate in the country. The government has warned that companies that do not sign up in time would be blocked. As of Wednesday afternoon, just under 9,000 entities – 8,500 … Read more

Alphabet, Microsoft spur hope big tech can handle slow economy

NEW DELHI: Alphabet Inc., Microsoft Corp. and Texas Instruments Inc. posted double-digit quarterly revenue growth on Tuesday and expressed optimism about the coming months, reassuring investors who had been fretting that the technology industry was poised for a dour second half. Shares of all three companies rallied in late trading, spurring S&P 500 futures and … Read more

Indian staff insulated from job cuts at Google, MS, Apple

MUMBAI : Indian employees of Google, Microsoft and Apple will see marginal, but definite impact of global cost cutting measures rolled out by the tech giants, including layoffs and cautious hiring, said industry experts. Sector analysts and recruiters said though the workforce in India is still more diverse, the companies will tread cautiously as the … Read more

Google CEO Sends Worrying Warning About the Economy

A potential recession will not spare many multinationals, that’s what investors who are liquidating their positions in tech giants seem to think. Alphabet ( (GOOGLE) – Get Alphabet Inc. Report), the parent company of Google, seems to prove them right. The Mountain View-based, California company is preparing for tough times. Indeed, Sundar Pichai, the CEO, … Read more