It's no secret that the tech industry continues to grow at a breakneck pace, especially in a world where many of us spent nearly eighteen months cooped up at home for both work and recreation. Google and its parent company Alphabet have seen wild financial success over the last year, and this quarter is no different. After breaking records in Q1 2021, Google has returned to do it all over again in Q2.
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Just shy of a month after Google workers in the US and Canada went public with the Alphabet Workers Union, Google employees across the globe have announced that they've formed a new global union alliance, The Verge reports. The Alpha Global coalition is comprised of 13 individual unions in 10 territories, including the United States, the United Kingdom, Switzerland, and more European states.
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As the old adage says, "what goes up must come down," and that's literally what's happening to Project Loon. Alphabet's X subsidiary (formerly Google X) was responsible for the idea of beaming internet to rural areas with the help of balloons, but CEO Astro Teller has announced that Loon will be winding down operations in the coming months.
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Silicon Valley could be facing its first major labor movement in the history of the technology boom: the Alphabet Workers Union, representing more than 225 employees across the company as well as temps and those with vendors and contractors in the United States and Canada, went public. The group, aligned with the Communications Workers of America, was formed in secret, tapping into years of built dissent that the corporation has failed to mitigate.
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The financial casualties of coronavirus pandemic have been revealed across the companies of Alphabet as the group recorded a 30% tumble in net income in the second quarter compare with the same period the previous year. Still, with as many diverse holdings as it has, things aren't as bad for Google's parent company as they seem — at least for the time being.
Read MoreAlphabet managed to finish its first financial quarter a step ahead of last year, but the coronavirus pandemic will make its mark on the company in the months to come. As it makes resources available free to consumers, the company will be constricted in what it can do to respond to increased demand for its services.
Read MoreGoogle’s parent company Alphabet announced its financial results for the third quarter of 2019, surpassing revenue expectations. As one might expect, Google products were among the top performers, but everything wasn’t as breezy. Even though revenue is up, the profit margins have come down sharply, leaving investors with less money in hand than what was anticipated.
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Google parent Alphabet has reported a strong second quarter with revenues up to almost $38.9 billion, a 19% gain from the same period last year. Growth in its mobile search, YouTube, and cloud has strengthened in all regions and has helped turn over net income of $9.95 billion. There was also good Android news coming from the Pixel 3a.
Read MoreInvestors are reeling after Alphabet posted a 17% year-over-year gain in revenues, its slowest growth in 3 years. In its earnings report for the first quarter, the company underlined monetization challenges across Google and YouTube alongside the latest large fine it has had to deal with from the European Commission. In the end, the company achieved operating income of $6.6 billion, down 13%.
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It's a concept that's been teased by megacorporations for years yet has only had meaningful progress in recent years: delivery by drone. For Google, Project Wing was conceived some 6 years ago as a way to shoot dog food from a local warehouse to your house. Today, the FAA announced that Wing, now the bona fide Alphabet company, has become the first drone delivery company to receive an Air Carrier Certification, meaning that it can now legally do business in the United States.
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