Google earnings preview: Ad spending is accelerating despite antitrust battle

📆 20/10/2023 00:45:00
📰 MarketWatch

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Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter @jswartz.

Google parent Alphabet Inc. may have an antitrust problem, with a raft of U.S. Justice Department-led lawsuits, but that hasn’t fazed its profit machine one bit.“We believe Alphabet is well-positioned to capitalize on the digital ad trend, participate in the cloud’s growth, innovate with AI, benefit from digital transformation and leverage a leaner cost structure,” Monness Crespi Hardt analyst Brian White said in a mostly positive note Thursday.

The dominant search-engine business, which is the subject of an ongoing federal trial in Washington, D.C., continues to rack up billions of dollars in advertising sales despite an overall downturn in that market, and generative-AI projects are integrated into Google products.

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