Google, plagued by data and privacy issues, still rakes it in - Vee News Live

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Monday, February 4, 2019

Google, plagued by data and privacy issues, still rakes it in

Google headquarters in Mountain View, California
"More than 20 years in, there is still tremendous opportunity for Google to help people save time, learn new things, grow their businesses and build stronger communities," Pichai said during a conference call with analysts on Monday.

Google's list of problems is no joke: Its own workers have publicly risen up against the company in protest over sexual assault allegations and its work with the military.

CEO Sundar Pichai was dragged in front of Congress in December to answer for privacy and censorship scandals.

And just last week, the search giant angered Apple for violating the terms of its App Store while distributing a market research app.

One thing is still golden for Google, though: It's making a ton of money.

In the last three months of the year, Google's parent, Alphabet, tallied $39.27 billion in sales, beating analyst estimates of $38.94 billion, the company said Monday.

Earnings per share were $12.77. Analysts on average had expected $10.82 per share, according to Thomson Reuters.

"More than 20 years in, there is still tremendous opportunity for Google to help people save time, learn new things, grow their businesses and build stronger communities," Pichai said during a conference call with analysts on Monday.

Traffic acquisition costs, or the fees the company pays to partners to make sure its search results are seen, rose to $7.4 billion from $6.4 billion over the same period last year.

That came to 23 percent of Google's total advertising sales.

The company also said it's spending more money on its "other bets," which includes projects like Waymo's self-driving cars and Verily's medical technology.

The operating loss for those initiatives was $1.3 billion in the fourth quarter, up from $784 million the year before.

Shares fell about 3 percent in after-hours trading on those higher expenses.



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