Google (NASDAQ:GOOG) (GOOGL) paid $26.3B in 2021 to make sure its search engine was the default on internet browsers and cellphones, Prabhakar Raghavan, senior vice chairman of search on the tech big, testified on Friday.
The corporate objected to revealing the data saying it will hurt its capability to barter contracts sooner or later, Bloomberg reported. Nonetheless, Choose Amit Mehta, who’s overseeing the antitrust case, dominated that the numbers must be disclosed.
Search promoting income totaled $146.4B in 2021, and the funds had been the corporate’s greatest price, Raghavan stated. The funds have greater than tripled since 2014, he stated.
Earlier this month, funding agency Bernstein stated Google’s cope with Apple (AAPL), often called the Info Providers Settlement, is probably going price between $18B and $20B yearly and will account for anyplace between 14% and 16% of Apple’s working earnings.
The Division of Justice is suing the tech big exactly over its offers with machine makers and wi-fi carriers to be the default search engine on gadgets. The federal government says such offers are illegal, they usually illegally assist the corporate keep its dominance of the net search market.
On Thursday, Raghavan stated that the corporate is competing with all varieties of firms for search relevance, together with Microsoft’s (MSFT) Bing, Amazon, TikTok, owned by China’s ByteDance (BDNCE) and different firms, comparable to Expedia (EXPE) or Reserving.com (BKNG).
Shares of Alphabet had been little modified on Friday.