Google reported a profit margin in the last quarter, revenues came up after expectationsThe internet titans Google and Amazon came…
Google reported a profit margin in the last quarter, revenues came up after expectations
The internet titans Google and Amazon came under an investor’s cloud after publishing disappointing sales updates, with the searcher also on the defensive for allegedly causing sexual misconduct.
Two of the world’s most valuable companies suffered from slides in their stock prices after losing quarterly gains, reducing the pessimism that existed on Asian and European stock markets on Friday.
While both on Thursday reported shock gains in the last quarter, revenues came up with lost expectations on Google and Amazon haunted the markets with a so-called forecast for the important holiday season that emerged.
“Given the current market background, your performance report must be perfect or your stock will be punished,” said Vic Anthony, an analyst at Aegis Capital Corp.
. Contributing to Google’s bad day was a New York Times report. The other senior employees, Android creator Andy Rubin, got a $ 90 million worth of money he charged with allegations of misunderstandings, and that Google had covered other allegations of sexual harassment.
Google’s CEO Sundar Pichai sent an email to employees that 48 people had been charged with sexual harassment over the last two years, including 1
3 senior executives and higher, but no-one received a withdrawal package.
He said that Google was “dead serious” about providing a safe workplace and that the report on Rubin and others was “difficult to read” but did not respond directly to the requirements.
Sam Singer, a spokesman for Rubin, rejected allegations against him in a statement to AFP, saying that Rubin had been living Google independently in 2014 to start the Playground venture capital company.
The latest report is added in a voice of voices condemning sexist culture in the man-made Silicon Valley that has hit a number of internet industry leaders at other tech giants from its perches.
Nerves proud net growth
Google is already under review with Facebook for its privacy and data protection policy, but on the business side, it has continued to weaken the monster revenue. 19659005] Google’s parent company Alphabet said revenue for the third quarter increased 36 percent to $ 9.2 billion, resulting in profits in digital advertising delivered online and on smartphones.
The alphabet has been working to become more diversified with its own Pixel brand of smartphones and tablets, its smart Google Home Speaker, running on Amazon’s leading edge, and cloud computing services, another area where Amazon is strong.
“Our hardwa re efforts are picking up real pace,” Pichai told analysts at a conference call.
Investors are disappointed with Amazon’s predictions for revenue and profits. gain during the busy period until Christmas
But the alphabet’s revenue fell without forecasts and increased by 21 percent to $ 33.7 billion in the three months ending in September compared to the same period last year.
“Alphabet is advertising revenue, so all softness makes people nervous,” says independent analyst analyst Rob Enderle.
The alphabet stocks lost the land after the income statement and decreased by 5.04 percent in marketing on Friday.
The Amazon share was, for its part, 8.66 percent before Friday’s opening, although quarterly net profit grew ten times from one year earlier to $ 2.9 billion.
The Seattle-based company spoke Amazon Business’s growing popularity, a service tailored as a source of all types of equipment and deliveries to companies.
“And we do not get slower – Amazon Business adds customers quickly, including major educational institutions, local governments and more than half of Fortune 100,” Amazon founder and CEO Jeff Bezos said in a statement.
Rivals to Amazon’s Crown
Western e-commerce leader revenue increased to $ 56.6 billion in the third quarter, an increase of 29 percent compared with the previous year.
It was less than forecast, and investors were also disappointed by Amazon’s predictions for revenue and profits over the busy period until Christmas.
Amazon’s bottom line is influenced by its major investment in cloud computing and voice-based hardware, and by its decision to set up its US $ 15 payroll payroll rate among critics of low pay.
Global Director Neil Saunders said that while Amazon had an enviable number, growth in net sales was the weakest in one year, and online competition picked up from bricks in the United States, such as Walmart and Target.
“Make no mistake, Amazon is a freak in the online market – nor do we think it’s under serious threat,” Saunders said.
“But others are now better off nibbling away by their domination.”
– Bloomberg News contributed to this report –
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