Google earnings top expectations as AI battle heats up – Iraqi News
Google has found itself under pressure due to a general slowdown in advertising spending, over-hiring during a Covid-era boom and a major challenge by Microsoft on artificial intelligence
San Francisco – Google parent company Alphabet beat market expectations in the first quarter of 2023 with a net profit of $15 billion, the company said on Tuesday, in a sign that the search engine behemoth is regaining its footing.
The tech titan has found itself under pressure due to a general slowdown in advertising spending, over-hiring during a Covid-era boom and a major challenge by Microsoft on artificial intelligence.
Its quarterly revenue came in at nearly $70 billion, a billion better than expected by analysts, and in the same three-month period that the company said it would lay off 12,000 staff, or six percent of its workforce.
In its results, Google announced a $2 billion charge for expected costs for the sackings.
Google became a focus of worry when Microsoft-backed ChatGPT was…
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source: https://news.oneseocompany.com/2023/04/25/google-earnings-top-expectations-as-ai-battle-heats-up-iraqi-news_2023042544035.html
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