Tag GOOGL

The U.S. Justice Department and a coalition of state attorneys general on Tuesday will begin a blockbuster antitrust trial in Washington, alleging that Alphabet's Google unlawfully abused its dominance in the search-engine market to maintain monopoly power. The U.S. and its state allies contend Google unlawfully stifled competition by paying billions of dollars to Apple and other business partners to ensure its search engine would be the default on most phones and web browsers. The government's lawsuit, filed in 2020 in federal court, alleges these deals were intended by Google to be "exclusionary," denying rivals access to search queries and clicks, and allowing Google to entrench its market dominance...

DuckDuckGo, which has long complained that Google's tactics have made it too tough to get people to use their search engine on a mobile phone, will be one of many rivals to the online search giant eyeing a once-in-a-generation antitrust trial set to begin Tuesday. The United States will argue Google didn't play by the rules in its efforts to dominate online search in a trial seen as a battle for the soul of the Internet. The U.S. Justice Department is expected to detail how Google paid billions of dollars annually to device makers like Apple Inc., wireless companies like AT&T and browser makers like Mozilla to keep Google's search engine atop the leader board...

Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) easily beat Wall Street expectations in the second quarter (ended June 30), posting revenue of $74.6 billion and adjusted diluted earnings per share of $1.44. Alphabet's success is demonstrated by just how dominant its industry position is. For example, the business commands 27% of the domestic digital advertising market, a lead it has had for quite a long time...

Growth from this company has topped key peers like Snowflake and Databricks, but that may not last long...