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Google: Google, Amazon suffer market losses in sales prospects



San Francisco: The Internet titans Google and Amazon came after disappointing sales updates in an investor cloud, the search leader also came on the defensive because he had reportedly repressed sexual misconduct.

Two of the world's most valuable companies have suffered declines after announcing their quarterly gains, adding to the pessimism on Asian and European stock markets on Friday.

While both reported steep gains on Thursday in the final quarter, Google's sales were below expectations and Amazon terrified the markets with such a poor forecast for the upcoming key holiday season.

"Given the current market environment, your earnings report must be perfect or your stock will be penalized," said Vic Anthony, an analyst at Aegis Capital Corp.

Google's bad day, a New York Times report said a senior executive, Android developer Andy Rubin, received a $ 90 million exit package for allegations of misconduct Google had covered up other allegations of sexual harassment.

Google boss Sundar Pichai sent an e-mail to staff stating that in the past two years, 48 ​​people had been fired for sexual harassment, including 1

3 senior executives and over, but not receiving an exit package have.

Google's parent company Alphabet announced that its third-quarter net income increased 36 percent to $ 9.2 billion, driven by digital advertising revenue delivered online and on smartphones.

Alphabet has diversified with its own pixel brand for smartphones and tablets, its Google Home smart speakers, which are taking market leader Amazon, and services like cloud computing, another area where Amazon is strong. "Our hardware efforts are picking up," Pichai told analysts on a conference call.

Alphabet's earnings, however, fell short of forecasts, rising 21 percent to $ 33.7 billion in the three months to September compared to the same period last year.

Amazon shares fell 8.66 percent before its opening Friday, even though quarterly net income had risen tenfold to $ 2.9 billion year-on-year.


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