tl;dr
Alphabet (NASDAQ:GOOG)(GOOGL) allegedly paid $20B to Apple (AAPL) in 2022 for Google to be the default search engine for the Safari internet browser, Bloomberg News reported, citing newly unsealed court documents in the Justice Department's antitrust suit against Google. On Thursday and Friday, Goog...
Alphabet (NASDAQ:GOOG)(GOOGL) allegedly paid $20B to Apple (AAPL) in 2022 for Google to be the default search engine for the Safari internet browser, Bloomberg News reported, citing newly unsealed court documents in the Justice Department's antitrust suit against Google. On Thursday and Friday, Google and the Justice Department are expected to make closing arguments in the case, while a decision is anticipated later this year. The deal between the companies is at the core of the case, in which the antitrust regulator alleges that Google illegally monopolized the market for online search and related advertising, the report added. The documents are the first public confirmation of the amount by Eddy Cue, Apple's senior vice president of services. The figures are not revealed by either company in their securities filings. The documents also suggest the vital nature of the payment to Apple's financial health. For example, in 2020, Google's payments to Apple formed 17.5% of Apple's operating income, according to the report. At the trial last fall, Apple executives testified that Google paid "billions" without disclosing a number. A Google witness later accidentally revealed that Google pays 36% of the revenue it generates from search ads to Apple. The iPhone maker first agreed to use Google for Safari browser in 2002 for free. However, the companies later decided to divide the revenue made from search advertising. By May 2021, Google was paying over $1B per month to Apple for its default status, prosecutors noted in the filing. Moreover, the court documents disclosed that Microsoft (MSFT), which owns the search engine Bing, offered to share 90% of its advertising revenue with Apple to make Bing the default in Safari. These numbers were not revealed previously. On Wednesday, it was reported that Microsoft was inspired to invest and collaborate with OpenAI potentially due to a feeling of lagging behind Google, an internal email released as part of the Department of Justice's antitrust case against Google showed.
More about Alphabet Inc Class C
Alphabet Inc Class C Summary Alphabet Inc Class C Summary
Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world's fourth-largest technology company by revenue and one of the world's most valuable companies.
Key Financial Data:
Sector: TECHNOLOGY
Services: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Market Cap: 2034590548000
Price/Earnings Ratio: 25.39
Dividend Yield: None
Beta: 6.52
EPS: 25.37
Price/Sales: 0.259
Shares Outstanding: 318145987000
Current Ratio: 184.59
Quick Ratio: 0.609
Debt/Equity Ratio: 0.154
More about Alphabet Inc Class A
Alphabet Inc Class A Summary Alphabet Inc Class A
Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world's fourth-largest technology company by revenue and one of the world's most valuable companies.
Sector: TECHNOLOGY
Industry: SERVICES - COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Market Cap: 2034584125000
PE Ratio: 25.13
Dividend Yield: None
Beta: 6.52
52-Week High: 25.37
52-Week Low: 0.259
Average Volume: 318145987000
Price to Sales: 188.51
Price to Book: 0.609
Profit Margin: 0.154
More about Apple Inc
Apple Inc. Summary Apple Inc.
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company that produces computer software, consumer electronics, personal computers, and related services. Its best-known software products include the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. The company's flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue and was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Sector: Technology
Industry: Services - Prepackaged Software
Market Cap: 293.53 billion
Current Price: $34.25
Change: 2.93
Change %: 11.53%
52-Week Range: $31.83
Dividend Yield: 0.364
Revenue: 236.58 billion
EPS: $467.7
P/E Ratio: 0.2
Beta: 0.17
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