Google parent company Alphabet is set to report fourth-quarter earnings after the bell Tuesday. Wall Street will be looking for $96.56 billion in revenue and $2.13 earnings per share.
China countered President Donald Trump's across-the-board tariffs on Chinese products with tariffs on select U.S. imports Tuesday, as well as announcing an antitrust investigation into Google and other trade measures.U.S. tariffs on products from Canada and Mexico were also set to go into effect Tuesday before Trump agreed to a 30-day pause as the two countries acted to appease his concerns about border security and drug trafficking. Trump planned to talk with Chinese President Xi Jinping in the next few days.The Chinese response was “measured,” said John Gong, a professor at the University of International Business and Economics in Beijing.
China retaliated against US tariffs on Tuesday by imposing additional duties on American goods like coal, crude oil (BZ=F, CL=F), and farm equipment. Initially, President Donald Trump announced a 10% levy on imports from China.
Alphabet (GOOGL) reports earnings after the closing bell, and Melissa Otto says its cloud services can become the company's leading growth driver. She expects Alphabet's search business to remain the company's "cash cow.
China on Tuesday announced a flurry of retaliatory measures against the U.S., including tariffs on imports of products such as coal, liquefied natural gas products and crude oil, as well as an antitrust probe into Google. It also placed two other U.S. firms on an unreliable entity list that could bar them from investing in China.
Alphabet is scheduled to report earnings after Tuesday's close. The stock ($GOOGL) just hit a record high of $205.48/share and is currently trading near $201.
Alphabet Inc. GOOG GOOGL will release its fourth-quarter financial results after the closing bell on Tuesday, Feb. 4.
GOOGL is riding on strong cloud and search growth. Using NVDA GPUs, GOOGL is currently the third-largest cloud provider after AMZN and MSFT.
China on Tuesday said it would probe US tech giant Google over violations of anti-monopoly laws after Washington slapped 10 percent levies on Chinese goods.
China hit back at the U.S. with tariffs of its own. Beijing also said it was starting an antitrust probe into Alphabet's Google.
China has announced new measures targeting US businesses, including Google, farm equipment manufacturers, and PVH Corp, the owner of Calvin Klein and Tommy Hilfiger. The move follows Washington's latest tariffs on Chinese imports.
Google has launched an appeal against a ruling declaring its Play Store an illegal monopoly. Having lost a case brought by Fortnite maker Epic Games, Google argued in a San Francisco court on Monday that legal errors had been made in the previous judgment.