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[ad_1] Last Updated: April 26, 2023, 03:05 IST Rise in profit show that search engine behemoth Google is regaining its footing. (File Photo) Its quarterly revenue came in at nearly $70 billion, a billion better than expected by analysts Google parent company Alphabet beat market expectations in the first quarter of 2023 with a net profit of $15 billion, the company said on Tuesday, in a sign that the search engine behemoth is regaining its footing. The tech titan has found itself under pressure due to a general slowdown in advertising spending, over-hiring during a Covid-era boom and a major challenge by Microsoft on artificial intelligence. Its quarterly revenue came in at nearly $70 billion, a billion better than expected by analysts, and in the same three-month period that the company said it would lay off 12,000 staff, or six percent of its workforce. In its results, Google announced a $2 billion charge for expected costs for the sackings. Google became a focus of worry when M...

[ad_1] MSCI’s global equities index lost ground on Wednesday after weaker-than-expected overseas data and as investors monitored a heating up of American-Chinese trade tensions while they awaited upcoming U.S. economic data and second-quarter earnings. Investors shrugged off U.S. Federal Reserve meeting minutes released on Wednesday that showed a Fed united in its June meeting decision to hold interest rates steady to buy time to assess whether further hikes would be needed. Minutes also showed most members expecting more policy tightening eventually. “If we continue to see a cooling of inflation, there may not be any further rate hikes, but nothing to that end was disclosed in the Fed minutes," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. “We’ll have a much better sense after we get another major data point on Friday with the jobs report and the inflation data next week." Putting a damper on equities overseas was the rele...