Alphabet answered Wall Street's call and reported its best earnings since 2009.
Google's parent company earned $26 million in ad revenue in the first quarter, up from $21 million this time last year. It also revealed a $3 billion stake in the ride-hailing company Uber, in addition to other investments.
Alphabet was the first major tech company to report earnings since mounting concern over data privacy reached a peak after Facebook's Cambridge Analytica scandal.
In a call with investors on Monday, the Google CEO Sundar Pichai said that potential new privacy regulations won't impact the company because it requires "very limited information" from its users to be able to generate revenue from its ad business.
"There is a lot of sound and fury without much actually happening that's going to change the earnings power of these companies and the valuation" said Jason Ware, the chief investment officer and chief economist at Albion Financial Group.
But it's not all sunshine and rainbows for Alphabet. The stock was down more than 2 percent on Tuesday morning, signaling that investors may be cooling on their beloved FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google).
Scott Kessler, the director of equity research and an analyst at CFRA, said investors should remember that Google has $100 billion in cash at its disposal. The company may give out buy-backs, or use it to make key investments, said Kessler.
Alphabet reported revenue of more than $31 billion and earnings per share of $13.33. Its "other bets" category saw revenue of $150 million.
For full interview, [click here](https://cheddar.com/videos/alphabet-answers-wall-streets-call).
Some of America’s biggest retailers are working to increase their shipping speeds to please shoppers expecting faster and faster deliveries.
A group representing several big tech companies is suing Utah over state laws about children's social media use.
Google has agreed to pay $700 million to settle an anti-trust settlement.
Stocks were up after the closing bell as Wall Street continued to pin their hopes on rate cuts after last week's comments from the Fed.
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Google has agreed to pay $700 million and make several other concessions to settle allegations that it had been stifling competition against its Android app store — the same issue that went to trial in another case that could result in even bigger changes.
Nicki Minaj just reached a milestone that no other woman in rap has reached.
Apple announced that starting this week, it will stop selling some versions of the Apple watch in the U.S.
Southwest Airlines will pay a $35 million fine as part of a $140 million settlement to resolve a federal investigation into a debacle in December 2022 when the airline canceled thousands of flights and stranded more than 2 million travelers over the holidays.
The House of Representatives recently passed a bill aimed at increasing transparency in healthcare.
