SAN FRANCISCO, Oct 27 — Google’s parent company Alphabet announced profits Tuesday that jumped to US$18.9 billion , even as the online colossus faces increased regulatory pressure and shifting of the lockdown lifestyles that have so benefited Big Tech.
Fellow giant Facebook, despite its whistleblower scandal, has also announced whopping profits, as did Microsoft, although Twitter reported a large loss due to a shareholder lawsuit settlement. From July to September, its video service sold US$7.2 billion of advertising space targeted according to content and users, against US$5 billion in the same period last year, according to Alphabet.
Google is among internet giants in the crosshairs of regulators and critics concerned about whether they unfairly dominate markets and fend off competition. The latest figures build on the pandemic trend that has seen an acceleration in people using the internet for shopping, work, learning and entertainment.
And a day earlier, Facebook announced that its profit in the third quarter grew to US$9.2 billion — a 17 per cent increase — and its ranks of users increased to 2.91 billion.
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