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☆ Google CEO responds to 'woke AI' criticisms after Gemini debacle: 'We got it wrong'
▼ + stars: | 2024-05-09 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

Google's CEO said "We got it wrong" in response to Gemini's AI debacle. Google has temporarily disabled Gemini's ability to generate images of people. AdvertisementGoogle's CEO reflected in a new interview on the company's Gemini AI image-generation debacle earlier this year, a controversy that drew backlash. Google CEO Sundar Pichai told Bloomberg in an interview published Wednesday that "we got it wrong" and it was a case in which good intentions went awry. Following criticism of the issue, Google paused Gemini from generating AI images of people while it corrected the changes.

Persons: Sundar Pichai, —, Pichai, should've, chatbot, Gemini Organizations: Google, Service, Bloomberg

☆ Google CEO Sundar Pichai explains why the company keeps doing layoffs
▼ + stars: | 2024-05-09 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

Google is conducting waves of ongoing layoffs intentionally, according to Sundar Pichai. Sundar Pichai said the company is "taking the time to do it correctly and well" in a Bloomberg interview. The company started 2024 with thousands of cuts, particularly from engineering and hardware teams. Google CEO Sundar Pichai told Bloomberg reporter Emily Chang that the company is "taking the time to do it correctly and well." A Google spokesperson told BI that the company made a number of changes to become more efficient, remove layers, and align resources to its biggest priorities.

Persons: Sundar Pichai, —, Emily Chang, Pichai, v5p Organizations: Google, Bloomberg, Service Locations: Bangalore, Mexico City, Dublin

☆ Sundar Pichai claps back at Microsoft's CEO after his comments about making Google 'dance'
▼ + stars: | 2024-05-09 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Google's CEO clapped back at Satya Nadella's comments about making Google dance with the "new Bing." Pichai said competition is normal in tech and he has a clear sense of what Google needs to do. AdvertisementMicrosoft CEO Satya Nadella once said he hopes the "new Bing" will make Google "come out and show that they can dance." But Google CEO Sundar Pichai likes to listen to his own music, he said in a new interview with Bloomberg published Wednesday. This story is available exclusively to Business Insider subscribers.

Persons: clapped, Satya Nadella's, Bing, Sundar Pichai, Pichai, —, Satya Nadella, Nadella Organizations: Google, Service, Bloomberg, Business

☆ Google employees question execs over 'decline in morale' after blowout earnings
▼ + stars: | 2024-05-08 | by ( Jennifer Elias | ) www.cnbc.com time to read: +8 min

"How does leadership plan to address these concerns and regain the trust, morale and cohesion that have been foundational to our company's success?" "Despite the company's stellar performance and record earnings, many Googlers have not received meaningful compensation increases" a top-rated employee question read. Google's use of cashThere were a lot of employee questions ahead of last week's meeting directed at the company's buyback, Porat said. With respect to the decline in morale brought up by employees, Pichai said "leadership has a lot of responsibility here, adding that "it's an iterative process." CNBC reported last week that Google is laying off at least 200 employees from its "Core" organization, which includes key teams and engineering talent.

Persons: Sundar Pichai, Loren Elliott, Ruth Porat, We've, Alphabet's, Hollie Adams, Porat, Prabhakar Raghavan, dory, Pichai, Ted, Larry Page, Jim Cramer Organizations: Inc, Government, Society, Bloomberg, Getty, Google, Economic, Finance, CNBC Locations: Stanford , California, Davos, Switzerland, U.S

☆ Internal document shows Google using uncertainty over a TikTok ban to try to win more ad dollars for YouTube
▼ + stars: | 2024-05-08 | by ( Hugh Langley | ) www.businessinsider.com time to read: +4 min

YouTube, TikTok, and Meta are fighting for ad spendA TikTok ban could have huge upside for YouTube. While YouTube is eating up more ad dollars, the platform is still behind Meta in terms of total video ad spend in the US, based on projected data from eMarketer. AdvertisementMeanwhile, TikTok has been gaining ground, with eMarketer predicting TikTok will have almost caught up to YouTube in terms of video ad dollars by 2025 in the US (assuming TikTok isn't banned). And like YouTube, the Chinese-owned app is also trying to take ad dollars away from TV networks and video streamers. It's still not clear how many ad dollars are moving to YouTube Shorts, but Google Chief Business Officer Phillip Schindler talked up the service on the company's latest investor call.

Persons: —, Joe Biden, YouTube's, Sundar Pichai, Zuckerberg, TikTok, isn't, eMarketer, Meta's, It's, Phillip Schindler Organizations: Service, Google, YouTube, Business, Apple, BI, Pew Research Locations: USA

☆ Big Tech is eating as much data as it can to win in AI — but it's not 'winner takes all,' CEO says
▼ + stars: | 2024-05-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Matt Calkins, CEO and co-founder of Appian, said that though internet giants like Microsoft , Amazon , and Google are spending billions on the tech, ensuring success in AI is "not just about money." "AI is not a place where money makes more money," Calkins told CNBC in an interview at its London bureau on Tuesday. Microsoft has struck a similar deal with Mistral, taking a 15 million euro ($16 million) stake in the French AI firm. Separately, Amazon has invested a whopping $4 billion into U.S. AI firm Anthropic, which is behind the Claude AI system. "The best AI will be the AI you put your data into, not whoever bought the biggest stack," he said.

Persons: Matt Calkins, Appian, Calkins, Sam Altman, Altman, Claude, you've, —, Sundar Pichai Organizations: Microsoft, Google, CNBC, Mistral, Amazon, OpenAI, Anthropic, British Locations: London, OpenAI, Redmond, Washington, French, Anthropic, Europe

☆ A product manager who worked at Meta and Google reveals which company is best for work-life balance
▼ + stars: | 2024-05-05 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +11 min

A Meta product manager who also worked at Google in a similar role revealed some differences between the tech companies based on his experiences over the past six years. AdvertisementCompany transparencyMeta does maintain some of the transparency the company was known for in its earlier days, McKinnon wrote. At Meta, McKinnon was aware of what other teams were working on, partly through the company's internal forums and dashboards. At Google, employees mostly communicate through email or chat, so it's more difficult to know what everyone is doing, McKinnon wrote. At Google, McKinnon saw that projects were largely created and led by software engineers, and PMs played a more auxiliary role.

Persons: —, Daniel McKinnon, Ray, McKinnon, Googlers, Meta's, Mark Zuckerberg, Sundar, Alphabet's, Sundar Pichai wasn't, Zuckerberg, Meta, VPs, Susan Li Organizations: Meta, Google, Service, Unit, Business, Facebook, . Software Engineers Locations: Meta

☆ Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty
▼ + stars: | 2024-05-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +13 min

Youth unemployment, income inequality, regional disparities, and Russian oil remain big problems. But the work starts there, as he'll have to navigate thorny issues such as youth unemployment, income inequality, and reliance on sanctioned Russian oil. "The other key economic policy was JAM — the trinity of bank accounts for the poor, mobile numbers and a biometric card. Indian demand for Russian oil has cooled in recent months as new sanctions have made it more expensive, but the buying remains controversial. Alexandr Demyanchuk/AFP/Getty ImagesIndia the IT hubUnder Modi, India has made big strides in modernizing its economy, combating bureaucracy, and appealing to foreign investors.

Persons: Narendra Modi, Elon Musk, Jamie Dimon, Tim Cook, —, Modi, Goldman Sachs, JPMorgan's Dimon, He's, Musk, Apple's Cook, Joe Biden, Sundar Pichai, Anna Moneymaker, Jensen Huang, Satya Nadella, Alphabet's Sundar Pichai, Richard Rossow, Demonetisation, Kunal Sen, Sen, Tim Graham, Rossow, tycoons Mukesh Ambani, Gautam Adani, Mukesh Ambani, Isha Piramal, Rihanna, Shloka Mehta Ambani, Akash Ambani, Radhika Merchant, Anant, Radhika, Ambani, they'd, Neelima Jain, Vladimir Putin, Alexandr Demyanchuk, Sanjay Shetty, Shetty Organizations: Service, titans, Monetary Fund, Gross, World Bank, Economic, of New, Google, Apple, Nvidia, Microsoft, India, Studies, Center for Strategic & International Studies, United Nations, United Nations University World Institute for Development Economics, University of Manchester, International Labor Organization, Oxfam, Bloomberg, Reliance Industries, Adani, CSIS, Indian, Shanghai Cooperation Organisation, Getty, Modi, Big Tech, Randstad, Economic Times Locations: India, Britain, Japan, Germany, China, of New York, Nimaj, Rajasthan, North Korea, Bihar, Uttar Pradesh, Russia, Ukraine, Europe, Moscow, Western, Samarkand, AFP, Randstad India

☆ AI engineers report burnout, rushed rollouts as 'rat race' to stay competitive hits tech industry
▼ + stars: | 2024-05-03 | by ( Hayden Field | ) www.cnbc.com time to read: +16 min

The AI engineer bailed on his friends, who had traveled from the East Coast to the Seattle area. watch nowThis is the dark underbelly of the generative AI gold rush. Last year marked the beginning of the generative AI boom, following the debut of OpenAI's ChatGPT near the end of 2022. Justin Sullivan | Getty ImagesAn AI engineer at Microsoft said the company is engaged in an "AI rat race." The Microsoft AI engineer said a lot of tasks are about "trying to create AI hype" with no practical use.

Persons: Sebastien Bozon, Jensen Huang, Tech's, Amy Hood, Mark Zuckerberg, Zuckerberg, Andy Jassy, Jassy, they're, Eric Gu, “, Gu, Satya Nadella, Sam Altman, Justin Sullivan, there's, Morry, Kolman, doesn't, Sundar Pichai, Bard, There's, That's, beholden, Ayodele Odubela, ", it’s, Adam Selipsky, Anthropic, Dario Amodei, Noah Berger, Odubela, Gemini Organizations: Google, Apple, Facebook, Microsoft, AFP, Getty, Amazon, CNBC, Big Tech, Nvidia, Google . Engineers, Tech, Vision, Cloud Next, Web, Amazon Web Locations: Mulhouse, France, East Coast, Seattle, ChatGPT, San Francisco, Vegas, Las Vegas, German

☆ Four Google execs got 200% stock payouts for 2023 after strong company performance
▼ + stars: | 2024-05-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +2 min

Four Google executives will receive 200% performance-based stock payouts in 2023. Google's senior VP and chief business officer each got $35 million in stock for 2023. AdvertisementGoogle parent company Alphabet paid four of its executives tens of millions of dollars in stock payouts for 2023, based on the company's public-markets performance. AdvertisementA 200% stock payout raised the total stock value for Porat and Walker's 2023 compensation to $23 million each. The executives' compensation was approved in early February after a tumultuous year for the company.

Persons: Google's, —, Ruth Porat, Prabhakar Raghavan, Philipp Schindler, Kent Walker, Raghavan, Schindler, Sundar Pichai Organizations: Google, Service, Twitter

☆ The future of Google — and Big Tech — hangs in the balance at trial
▼ + stars: | 2024-05-02 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Google's landmark antitrust trial is wrapping up this week in DC with closing arguments, capping off a yearslong saga. AdvertisementIn the end, Judge Mehta could clear Google or find it liable, which could result in changes to its search engine contracts. Mehta could even bar Google from making future deals around its search engine. In his testimony, Google SVP Prabhakar Raghavan noted the search giant is referred to as "Grandpa Google" in some circles and cited execs' fears that its influence might be dwindling.

Persons: —, Amit Mehta, Satya Nadella, Sundar Pichai, Google's, Kent Walker, Judge Mehta, Mehta, Prabhakar Raghavan, Google Organizations: Service, Apple, Business, US, Microsoft, Justice, Google, The New York Times, DOJ, FTC, Amazon, Meta, Big Tech, AP

☆ Google lays off hundreds of 'Core' employees, moves some positions to India and Mexico
▼ + stars: | 2024-05-01 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

Just ahead of its blowout first-quarter earnings report on April 25, Google laid off at least 200 employees from its "Core" teams, in a reorganization that will include moving some roles to India and Mexico, CNBC has learned. The Core unit is responsible for building the technical foundation behind the company's flagship products and for protecting users' online safety, according to Google's website. Core teams include key technical units from information technology, its Python developer team, technical infrastructure, security foundation, app platforms, core developers, and various engineering roles. Many Core teams will hire corresponding roles in Mexico and India, according to internal documents viewed by CNBC. Asim Husain, vice president of Google Developer Ecosystem, announced news of the layoffs to his team in an email last week.

Persons: Sundar Pichai, Asim Husain, Husain, Ruth Porat, Prabhakar Raghavan Organizations: Inc, Government, Society, Google, CNBC, Mexico City, U.S Locations: Stanford , California, India, Mexico, Sunnyvale , California, Bangalore, Brazil

☆ Former Google workers fired for protesting Israel deal file complaint claiming protected speech
▼ + stars: | 2024-05-01 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —Dozens of former Google workers filed a complaint with the US National Labor Relations Board on Tuesday after they were fired or placed on administrative leave last month for protesting the company’s cloud-computing contract with Israel’s government. We are confident in our position and stand by the actions we’ve taken.”Last month’s protests involved employee sit-ins inside Google’s offices in New York City and Sunnyvale, California. No Tech for Apartheid said last week that 50 Google employees were terminated in connection with the protests. The group claimed that some of the workers fired were “non-participating bystanders” and not actively involved in the workplace activism. But affected workers say they should not have been fired for protesting the company’s actions.

Persons: “, Thomas Kurian, ”, Zelda Montes, Benjamin Sachs, Kestnbaum, that’s, Sundar Pichai, Pichai, ” Pichai, Googlers, –, Catherine Thorbecke Organizations: New, New York CNN, US National Labor Relations Board, Tech, Apartheid, Google, CNN, “, Labor, Industry, Harvard Law School, Hamas Locations: New York, New York City, Sunnyvale , California, Sunnyvale, Israel, Gaza, America

☆ Amazon, Microsoft, and Alphabet are doubling down on AI for the cloud — and it seems to be paying off
▼ + stars: | 2024-05-01 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

Over the last two weeks, major cloud providers Amazon, Microsoft, and Alphabet have reported quarterly earnings that exceeded Wall Street's expectations. Amazon, Microsoft, and Alphabet's shares also climbed after earnings were reported, evidence that doubling down on their AI strategies seems to be paying off. Davidson Companies analyst Gil Luria told Business Insider regarding Amazon, Microsoft, and Alphabet. Microsoft Cloud generated $35.1 billion in revenue — up 23% year-over-year — that CEO Satya Nadella credits partly to investments into AI tools like Microsoft Copilot. Amazon, Microsoft, and Alphabet didn't immediately return a request for comment from Business Insider before publication.

Persons: —, D.A, Gil Luria, Claude, Andy Jassy, Satya Nadella, Nadella, Ruth Porat, OpenAI's ChatGPT, Luria, doesn't, Jassy, Sundar Pichai Organizations: Service, Microsoft, Business, Davidson Companies, Amazon, Web Services, Google Cloud, Google, Gemini, Research, Capital Locations: Indonesia

☆ How CEOs are preparing for possible employee protests
▼ + stars: | 2024-04-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

You can always choose to move on, but remember you don’t have a right to work at most companies. We can’t keep re-litigating when we also have a business to runYou speak with CEOs every day. Most of the CEOs I’ve talked to said they haven’t seen their employees protest, but they’re bracing for it. But I will say that I don’t think it will become that widespread because of how swiftly and unapologetically Google addressed it. I don’t think it will become a thing.

Persons: Sundar Pichai, Bell, Johnny C, Taylor Jr, that’s, we’re, We’re, we’ve, I’m, You’d, They’re, I’ve, Royce, Peter Valdes, “ We’re, ”, Martin Fritsches, “ That’s, Brian Fung, Sean Lyngaas, Satya Nadella, Sam Altman, Northrop Grumman, Alejandro Mayorkas Organizations: CNN Business, Bell, New York CNN, Google, Tech, Society for Human Resource Management, Companies, Royce, BMW, OpenAI, Microsoft, Department of Homeland Security, Delta Air Lines, DHS, “, Amazon Web Services, IBM, Cisco, ’, Civil Locations: New York, Israel, Chichester , England

☆ Sundar Pichai, James Gorman, and Sheryl Sandberg have all worked for McKinsey. Here's why the consultancy is a CEO factory.
▼ + stars: | 2024-04-27 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Many Fortune 500 CEOs have previously worked at McKinsey. The firm has become known as a CEO factory, but has sparked controversy in the past, too. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Sundar Pichai, Sheryl Sandberg, —, it's Organizations: McKinsey, Service, Street, Department of Justice, Enron, Business Locations: Saudi

☆ Sundar Pichai just showed the doubters he's the right general for Google's AI battle
▼ + stars: | 2024-04-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Read previewThere's an AI battle raging, and Sundar Pichai appears to be Google's wartime general. With Pichai at the helm, Alphabet just reported blockbuster first-quarter earnings that surpassed analysts' estimates and sent the stock soaring. The CEO told analysts that Google was well "positioned for the next wave of AI innovation and the opportunity ahead," reminding them the company had been "AI-first" since 2016. This story is available exclusively to Business Insider subscribers. Google did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Sundar Pichai, Pichai, Googlers, He's Organizations: Service, Google, Business, Microsoft

☆ CEOs of OpenAI, Google and Microsoft to join other tech leaders on federal AI safety panel
▼ + stars: | 2024-04-26 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —The US government has asked leading artificial intelligence companies for advice on how to use the technology they are creating to defend airlines, utilities and other critical infrastructure, particularly from AI-powered attacks. The Department of Homeland Security said Friday that the panel it’s creating will include CEOs from some of the world’s largest companies and industries. The list includes Google chief executive Sundar Pichai, Microsoft chief executive Satya Nadella and OpenAI chief executive Sam Altman, but also the head of defense contractors such as Northrop Grumman and air carrier Delta Air Lines. It also includes federal, state and local government officials, as well as leading academics in AI such as Fei-Fei Li, co-director of Stanford University’s Human-centered Artificial Intelligence Institute. The US government already uses machine learning or artificial intelligence for more than 200 distinct purposes, such as monitoring volcano activity, tracking wildfires and identifying wildlife from satellite imagery.

Persons: Sundar Pichai, Satya Nadella, Sam Altman, Northrop Grumman, ”, Alejandro Mayorkas, Fei Li, Joe Biden Organizations: Washington CNN, Department of Homeland Security, Google, Microsoft, Delta Air Lines, DHS, “, Amazon Web Services, IBM, Cisco, ’, Civil, Stanford, Intelligence, Safety, Security

☆ CEOs make the message clear on AI's big payoff: Be patient
▼ + stars: | 2024-04-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

And the initial signs are quite positive here too," Zuckerberg told investors in an earnings call. AdvertisementElon Musk had even stronger words for investors on Tuesday after Tesla reported plunging profits. Even so, Musk insisted during an earnings call that Tesla is an AI company and had a specific message to any shareholder who thinks that Tesla won't develop self-driving someday. On Thursday, Microsoft and Alphabet reported profits, which they ascribed in part to their respective AI sectors. Google's parent company reported $23.7 billion in profits for the same period.

Persons: —, Apple, Demis Hassabis, Sam Altman, Mark Zuckerberg, Zuckerberg, we've, Elon Musk, Tesla, Musk, Matthew Prince, Sundar Pichai, Pichai Organizations: Service, Meta, OpenAI's, EV, Economic, Reuters, Nvidia, Microsoft Locations: Davos

☆ Microsoft and Alphabet just proved AI boom has room to run
▼ + stars: | 2024-04-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Microsoft and Alphabet reported quarterly earnings that beat Wall Street's expectations. On Thursday, just off the heels of Meta's mixed first-quarter results that caused a dip on Wall Street, Microsoft and Alphabet just proved that there's money to be made off of artificial intelligence. However, the executive also made sure to highlight the contributions of Google Cloud, which now comes with generative AI services through Google's AI model, Gemini. Investors appeared pleased with Microsoft's and Alphabet's quarterly performance, which gave the companies a stock surge, as Wall Street continues to nurse a hangover from Meta's first-quarter report. "They have a goldmine of AI engineers and data, and now they're starting to monetize it," Ives said of Alphabet and Microsoft.

Persons: Wedbush's Dan Ives, —, Meta's, Sundar Pichai, Mercedes, Pichai, Ruth Porat, Satya Nadella's, Nadella, Microsoft's, Dan Ives, Ives Organizations: Microsoft, CNBC, Service, Google, Bayer, Cintas, Mercedes Benz, Walmart

☆ Alphabet soars 10% on strong earnings, first-ever dividend, $70 billion buyback
▼ + stars: | 2024-04-26 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Alphabet CEO Sundar Pichai during the Google I/O developers conference in Mountain View, California, on May 10, 2023. Alphabet shares shot up 10% Friday morning after the company posted better-than-expected first-quarter results and greenlit its first-ever dividend and a $70 billion buyback. Earnings of $1.89 per share eclipsed the $1.51 in earnings per share expected by Wall Street. The company said the board also approved the repurchase of an additional $70 billion in stock. Among other price target boosts for the stock following Alphabet's earnings, JPMorgan increased its price target to $200 from $165, while Evercore ISI upped its target to $200 from $160.

Persons: Sundar Pichai, Oppenheimer, Morgan Stanley, durably, — CNBC's Michael Bloom Organizations: Google, LSEG, Wall, YouTube, Barclays, —, JPMorgan Locations: Mountain View , California

☆ Alphabet issues first ever dividend, $70 billion buyback
▼ + stars: | 2024-04-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Alphabet said Thursday that it's issuing a 20-cent per share dividend, the company's first ever, and that its board authorized the repurchase of up to $70 billion in stock. The dividend is payable to all class of shares, including super-voting Class B shareholders, as well as nonvoting Class C shareholders. Co-founder Sergey Brin, who owns more than 730 million Class B and C shares, will receive a $146 million payout. Co-founder Larry Page, who owns 389 million Class B shares, will get a dividend payment of $78 million. Amazon's largest share repurchase, in 2022, was for up to $10 billion.

Persons: Sundar Pichai, Pichai, Sergey Brin, Larry Page Organizations: Google, Investors, Meta, Amazon Locations: Washington ,

☆ We're boosting our price target on Alphabet by $30 after it delivered the quarter we've been waiting for
▼ + stars: | 2024-04-25 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Alphabet on Thursday delivered a knockout first-quarter report, with sales, operating margin and profits all topping Wall Street expectations. Alphabet Why we own it : Alphabet's Google Search is an invaluable tool for advertisers. Alphabet's big three watch items for investors — Search, YouTube, and Google Cloud — all delivered better-than-expected revenues in the quarter, leading to companywide sales topping estimates. It exited the quarter with $108 billion in cash, cash equivalents and marketable securities on its balance sheet, compared with $110.9 billion at the end of 2023. At 20 cents a share, Alphabet's dividend yield stands at 0.51% based on Thursday's close.

Persons: we've, It's, Sundar Pichai, Ruth Porat, TikTok, Philipp Schindler, Pichai, Porat, we're, Alphabet's, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: YouTube, Microsoft, Management, —, Google, Google Services, Capital, buybacks, Meta, Apple, CNBC, O, Bloomberg, Getty Locations: That's, Mountain View , California

☆ Alphabet set to report first-quarter results after market close
▼ + stars: | 2024-04-25 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

Revenue: $78.59 billion, according to LSEG. : $7.72 billion, according to StreetAccount. Traffic acquisition costs (TAC): $12.74 billion, according to StreetAccount. Wall Street is expecting Alphabet to report a second straight quarter of year-over-year revenue growth in the low teens. CEO Sundar Pichai told employees in January that more job cuts were likely coming in 2024, though he didn't specify at the time which teams would be affected.

Persons: Sundar Pichai, Prabhakar Raghavan, Raghavan, Liz Reid, Meta, Mark Zuckerberg's, Ruth Porat Organizations: Google, TAC, OpenAI, Microsoft, CNBC Locations: Brussels, Belgium, LSEG, StreetAccount

☆ Google earnings: Shares surge after Alphabet to buy back billions of dollars of its own stock
▼ + stars: | 2024-04-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell. Revenue from the quarter reached more than $80.5 billion, up 15% from the same period in the prior year and ahead of the $78.75 billion analysts had projected, according to FactSet estimates. Meta shares sank on Thursday after the company raised its annual expense forecast to fund its AI ambitions, despite better-than-expected earnings results Wednesday. But in addition to Google, multiple positive tech earnings reports on Thursday helped reverse what had been a sluggish day for tech stocks. Snap resultsSocial media company Snap, the parent company of social media platform Snapchat, also saw its stock climb after-hours on the heels of a rosy first-quarter earnings report that beat Wall Street’s estimates.

Persons: Sundar Pichai, ” Pichai, CNN’s Catherine Thorbecke Organizations: New, New York CNN, Google, Wall, Revenue Locations: New York

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