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Google, Facebook set to squash initial iOS fears, show big revenue jump
July 27 (Reuters) – Wall Street expects Alphabet Inc (GOOGL.O) and Facebook Inc (FB.O) to report a surge in digital ad sales this week after smaller rivals showed soaring demand, bolstering expectations that the impact of Apple Inc’s (AAPL.O) privacy changes has not yet been felt. Together, Google and Facebook generated about $70 billion in revenue last quarter through digital ads, a business that faced initial hits from the COVID-19 pandemic but which analysts said is now looking robust. Upbeat results from Snap (SNAP.N) and Twitter (TWTR.N) have been seen as positive indicators for the larger players due to report
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Google faces EU antitrust investigation over its advertising business
The formal investigation, which follows a preliminary probe that began in 2019, will examine whether Google (GOOGL) is distorting competition by restricting access to user data for advertising purposes, while reserving such data for its own use, the European Commission said on Tuesday. “Google collects data to be used for targeted advertising purposes, it sells advertising space and also acts as an online advertising intermediary. So Google is present at almost all levels of the supply chain for online display advertising,” EU chief antitrust official Margrethe Vestager said in a statement. “We are concerned that Google has
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Facebook, Twitter, Google threaten to quit Hong Kong over proposed data laws
Author and geopolitical analyst Brandon Weichert suggests China could gain economic dominance through technology production. HONG KONG — Facebook Inc., Twitter Inc., and Alphabet Inc.’s Google have privately warned the Hong Kong government that they could stop offering their services in the city if authorities proceed with planned changes to data-protection laws that could make them liable for the malicious sharing of individuals’ information online. A letter sent by an industry group that includes the internet firms said companies are concerned that the planned rules to address doxing could put their staff at risk of criminal investigations or prosecutions related
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Opinion | From Google, on Its Advertising Tech Business
To the Editor: “Google Dominates a Hidden Market With No Rules,” by Dina Srinivasan (Opinion guest essay, June 25), makes claims about our advertising technology business that we strongly disagree with. Independent reports show that the fees we charge our partners are lower than the industry average. In fact, the 100 largest news publishers — many of which have in-house sales teams that perform many of the functions provided by Google’s ad sales, exchange and brokerage operations — using our tools keep more than 95 percent of the revenue that their ad space earns, a far cry from the
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Google to change global advertising practices in landmark antitrust deal
Google (GOOGL.O) said it would make changes to its global advertising business to ensure it did not abuse its dominance, bowing to antitrust pressure for the first time in a landmark settlement with French authorities. The deal with the French competition watchdog could help rebalance the power over advertising in favour of publishers, which held sway over the business in the pre-internet era but lost control with the rapid rise of Google and Facebook (FB.O). The settlement, announced on Monday and included a fine on of 220 million euros ($268 million), was the first time the U.S. tech giant had
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