Google Profits Plunge

April 30. 2019

Google 

The profits of the tech company Google have plunged. Google, owned by the Alphabet corporation, owns Google Ad Sense (internet ads), G-Mail and Blogger, among other products. Heavy competition from companies who’ve started their own advertising services has toppled Google from the top spot as the internet’s number one ad company. Companies such as Amazon, as well as the social networking websites Twitter and Snap Chat, dethroned Google, whose profits are down by almost 10 percent.

One of Google's founders Larry Page

Google also lost money on a $1.7 billion dollar fine from the European Union. Google violated antitrust/monopoly laws in the European Union. The company is also massively underpaying taxes in the European Union and Britain, despite the fact they are making billions per year in each region. The European Union is clamping down on tax evaders.

Eric Schmidt was forced out of Google due to a sex scandal under the successful MeToo movement

Competition is good. There’s nothing wrong with ad revenues being ethically and honestly earned by more than one company. Google reached a point where the company was being abusive to websites and blogs that ran their ads, in acts of censorship, ordered by former President, Barack Obama and failed presidential candidate, Hillary Clinton. Google's You Tube also did the same. However, none of this sat well with the public. It resulted in boycotts that damaged Google's bottomline.

Hillary Clinton and Barack Obama

Members of government should not be imposing upon companies in this manner, as it damages the nation's name, standing with the public and economy. Politicians should not be engaging in censorship, as seen in the conduct of Obama and Clinton. Free speech and free press are cornerstones of democracy.

STORY SOURCE

Google parent's shares dive as YouTube changes, competition hurt revenue

Tuesday, 30 April 2019 00:13 GMT - April 29 (Reuters) - Alphabet Inc's Google on Monday saw its slowest revenue growth in three years from increased competition in advertising, stumbles in its smartphone business and disruptive changes at YouTube that left the leading internet ad company lagging rivals. Shares of Alphabet dropped 7.5 percent after hours, setting them up for the biggest one-day drop since falling 8 percent in October 2012.

They had closed Monday at a record-high of $1,296.20...Alphabet said its quarterly revenue rose 17 percent from a year ago to $36.3 billion, about $1 billion short of Wall Street's average estimate, according to IBES data from Refinitiv.

http://news.trust.org

Alphabet drops after reporting ad revenue slowdown

Published Mon, Apr 29 2019 • 3:30 PM EDT Updated 5 hours ago - Alphabet shares fell about 7% after Google’s parent company reported revenue that fell below analyst estimates for its first-quarter 2019. The drop wiped more than $60 billion off Alphabet’s market cap... 

Google is seeing decelerating growth after consistently expanding at 20% or more in prior periods. Revenue increased 17%, down from growth of 28% a year earlier, and ad sales rose 15%, down from 24% a year ago.

https://www.cnbc.com

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