Tag: Internet Media and Services

Facebook owner Meta Platforms will face a trial in October 2025 in Spain over a 551 million euro ($582 million)complaint lodged by more than 80 media companies accusing it of unfair competition in advertising, a Madrid court said on Friday.

U.S. regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade.

Audio-streaming giant Spotify forecast fourth-quarter profit above Wall Street estimates on Tuesday, betting on cost cuts and strong subscriber growth in the crucial holiday season.

Airbnb reported third-quarter earnings on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat. The stock fell about 3% in after-hours trading.

On Thursday, Evercore ISI updated its outlook on Booking Holdings stock, increasing the price target to $5,300 from the previous $4,200 while maintaining an Outperform rating. The revision follows Booking Holdings’ third-quarter earnings, which exceeded expectations and prompted the firm to adjust its financial projections upward.

Meta Platforms reported better-than-expected earnings results on Wednesday but forecast rising infrastructure expenses next year. Its shares fell in after-hours trading.

Alphabet reported third-quarter earnings and revenue that beat Wall Street estimates, sending the stock higher.

Tech group signs deal with Kairos Power to build up to 7 small facilities to meet its energy needs

The Department of Justice late Tuesday made recommendations for Google’s search engine business practices, indicating that it was considering a possible breakup of the tech giant as an antitrust remedy.

Shares of Alphabet, the parent company of Google, fell Monday after a federal judge ordered it to allow users to bypass the Google Play Store when downloading and purchasing apps on Android devices.

Google filed an antitrust complaint with the European Commission Wednesday accusing Microsoft of using unfair licensing contracts to stifle competition in the multibillion-dollar cloud computing industry.

The European Union’s second-highest court on Wednesday said a 1.5 billion euro ($1.7 billion) fine imposed on Google
by regulators should be annulled, siding with the U.S. tech giant after it challenged the ruling.

European food delivery firm Delivery Hero says it plans to spin off its Middle East business Talabat and float it on the Dubai stock exchange later this year.

Ride-hailing platform Uber has been fined 290 million euros ($324 million) in the Netherlands for sending the personal data of European taxi drivers to the United States in violation of EU rules, Dutch data protection watchdog DPA said on Monday.

The detention of the Russian-born billionaire founder of Telegram, a messaging app known for its unfiltered content, has sparked debate about freedom of speech and illegal content on the internet.

A bid to break up Alphabet Inc.’s Google is one of the options being considered by the Justice Department after a landmark court ruling found that the company monopolized the online search market, according to people with knowledge of the deliberations

Expedia Group Inc. posted better-than-expected second-quarter results while warning of “softening” travel demand in the current quarter, leading it to adjust its expectations for the rest of the year.

Airbnb shares were falling in after-hours trading after the short-term rental company missed expectations for second quarter earnings and warned of moderating demand in the current quarter.

Uber reported second-quarter results that topped Wall Street estimates on Tuesday. The stock rose about 4% in pre-market trading.

Meta shares jumped about 7% in extended trading on Wednesday after the company beat Wall Street estimates for revenue and profit and issued a better-than-expected forecast for the current period.