Google Financial News

Google parent Alphabet on Wednesday reported a net profit of $19.6 billion for the quarter ended September 30 as compared to $13.9 billion during the same period last year. “I’m pleased with our financial results and our product momentum this quarter, with AIdriven innovations across Search, YouTube, Cloud, our Pixel devices and more,"

Also Read: Microsoft Q3 Results: Revenues rise 13% to $56.5 billion, beating analysts estimates By contrast, revenue from Microsoft's Intelligent Cloud unit, which houses the Azure cloud computing platform, grew to $24.3 billion, compared with analysts' estimate of $23.49 billion, LSEG data showed, Reuters reported. Azure revenue rose 29%, higher than a 26.2% growth estimate from market research firm Visible Alpha.

Alphabet's cloud business crawled to its slowest in at least 11 quarters, sending the company's stock down 5.7% after hours, even as sales at rival Microsoft's cloud unit boomed. The drop in Google's share price despite beating Wall Street estimates for profit and sales, shows how much investors want the company to deliver gains in artificial intelligence, and show the cloud business remains competitive against a more powerful Azure from Microsoft and Amazon.com's AWS. Fears of a slowing global economy have prompted companies to curb spending on cloud-related services, including expensive AI tools, which has slowed revenue growth at Google's cloud unit to 22.5% in the third quarter, from 28% in the prior three-month period. Google Cloud third-quarter revenue rose 22.5% to $8.41 billion, the slowest growth since at least the first quarter of 2021. The cloud unit reported a operating income of $266 million, compared with an operating loss of $440 million a year ago.

By Stephen Nellis

After-Hours Stock Movers:

By Max A. Cherney and Akash Sriram

Investing.com — The Dow closed higher Tuesday as a slew of better-than-expected corporate earnings and steady Treasury yields lifted sentiment on the stocks ahead of the big tech earnings.  

Investing.com -- Google parent Alphabet (NASDAQ:GOOGL) Inc Class C (NASDAQ:GOOG) shares fell more than 5% in after-hours trading after weaker than expected gains in revenue from its cloud computing operation.

Investing.com — The S&P 500 rose Tuesday as investors digested a wave of quarterly corporate earnings, with Microsoft and Google set to kick off earnings for big tech.

malvertising campaign that is targeting users searching for PDF converters or Notepad++ on Google. As per a TOI report, the campaign uses Google Ads to direct users to dangerous landing pages and distribute malicious payloads. According to Malwarebytes, this campaign is unique in its ability to fingerprint users and distribute time-sensitive payloads. The hackers behind this campaign specifically target users who are searching for free versions of Notepad++ and PDF converters.

Supreme Court has sought the response of the Centre on a plea seeking transfer of a PIL on surveillance systems pending before the Delhi High Court to the apex court. The PIL has claimed that the citizens' right to privacy was being «endangered» by surveillance programmes like the Centralised Monitoring System (CMS), Network Traffic Analysis (NETRA) and National Intelligence Grid (NATGRID).

Samsung's Galaxy S24 series is nearing its launch in early 2024 and reports suggest the South Korean giant is gearing up to revolutionise the smartphone landscape with AI integration, aiming to create the «smartest AI phones ever.» The company's focus on artificial intelligence (AI) technologies, particularly generative AI, is poised to challenge competitors like Google’s Pixel 8 series. Samsung plans to introduce advanced AI features, some inspired by models like ChatGPT and Google Bard. Users can anticipate capabilities allowing them to create content and stories based on minimal input, a user-friendly feature aimed at enhancing creativity. Additionally, Samsung is developing in-house generative AI tools, including text-to-image functionality.

The U.S. prosecution team has issued a formal request to the United States District Court, Southern District of New York, seeking to preclude the defense from introducing arguments or evidence concerning the current value of specific investments in the trial against Samuel Bankman-Fried, the erstwhile CEO of cryptocurrency exchange FTX. This request follows allegations that Bankman-Fried misappropriated FTX customer deposits for a substantial investment in the artificial intelligence startup Anthropic, an investment whose value might have significantly appreciated amid recent fundraising endeavors by Anthropic.

ChatGPT, Google’s Bard and Anthropic’s Claude, and applying them to whatever area of human endeavor their founders think hasn’t had enough AI thrown at it yet. The sudden ubiquitousness of these startups and services suggests that the AIs they are leveraging are ready for prime time. In many ways, though, they are not.

Wionews. “It is possible that humans are actually aliens and we're the ones who invaded Earth," the Wionews report quoted Google’s bot Bard as saying. “One of the main arguments in favour of the idea that humans are aliens is that we are very different from other life on Earth," the AI-powered bot added.

The biggest tech companies want you to ditch passwords for passkeys. You’re probably wondering: What even is a passkey? And do I have to use it? It’s a new type of login that uses cryptographic magic on your phone or laptop. Passkeys are safer than typing “password123," and more convenient, since all you do is scan your face or fingerprint, or click a button.

Garena Free Fire Max is a revamped version of Garena Free Fire. It debuted in 2021 and became popular after the ban of the former by the Indian government. Developers of the game keep updating these codes daily.

FTX founder Sam Bankman-Fried, known for his appetite for risky bets, is mulling perhaps his biggest gamble yet: testifying in his own defense. The onetime crypto star, on trial in New York on allegations of fraud, money laundering and other offenses, has spent nearly three weeks watching some of his former close friends and colleagues take the stand and offer what appeared to be damning testimony. Bankman-Fried, they told jurors, knowingly directed and committed an array of criminal acts that led to the collapse of the FTX crypto exchange and the loss of billions of dollars in customer funds.

Proud of made in India iPhone 15, will switch to Google Pixel India-made version…, Anand Mahindra says Seemingly happy with the product, Mahindra informed his followers that the new e-bike is available for purchase on Amazon and Flipkart. But not before disclosing that he is an investor in Hornback. “Took my very own HORNBACK X1 for a spin around the office compound! (Full disclosure: I have invested in their startup.) Hornback is available on Amazon as well as on Flipkart," he added.