Google Faces Antitrust Challenges as Stock Sees Mixed Performance and Revenue Growth

As of last week, Google C (GOOG) saw an increase of 0.82%, marking a two-day upward trend with a cumulative gain of 0.90%. However, over the past week, it experienced a decline of 2.4%, though since the beginning of the year, it has risen by 17.07%. The latest market capitalization stands at $2025.41 billion. On October 11, 2024, Google C recorded a trading volume of $18 billion, making it the 22nd most traded stock in the US market that day, a decrease of 14.54% from the previous day, with 10.94 million shares changing hands.

Google C closed at $164.52, reflecting a rise of 0.82% on October 11. Over the past five trading days, the stock dropped by 2.40%. For the entire month of October, it has decreased by 1.60%, yet has grown 16.74% year to date, and during the past 52 weeks, it increased by 18.72%.

Alphabet Inc., the parent company of Google and its subsidiaries, was restructured in 2015. Initially founded on September 4, 1998, in California and reincorporated in Delaware in August 2003, Alphabet ventures into various fields, including technology, life sciences, and investment. Google focuses on internet search, cloud computing, and advertising technologies, providing a wide range of internet-based products and services.

The Android legal battle continues as a recent judgment by Judge James Donato mandates Google to open its Google Play store to rival app stores following an antitrust lawsuit by Epic against Google. This ruling requires Google to allow the distribution of third-party app stores within Google Play, giving developers the option to choose.

The court demands that Google stop forcing apps to use its payment system, allowing developers to introduce alternative payment methods, and permitting app downloads from outside the Play Store. However, Google retains some control over security issues, which must be necessary and proportionate.

Epic initially filed the lawsuit against Google in August 2020, coinciding with a similar case against Apple, following the removal of Fortnite for bypassing a 30% commission. While Apple's case concluded largely in its favor, Google's extended proceedings yielded a more impactful outcome for Epic, with the court acknowledging Google’s unfair practices.

Despite losing in court, Google plans to appeal the decision. They might request a stay on the ruling, similar to Apple's legal approach. Furthermore, Epic has launched a second lawsuit involving Google and Samsung, accusing them of complicating third-party store operations to avoid compliance with the court's impending conditions.

As per financial figures to June 30, 2024, Google C reported total revenue of $165.28 billion, marking an annual growth of 14.47%, and net income attributed to the parent company at $47.28 billion, a notable increase of 41.48%. The company is set to release its third-quarter financial report for 2024 on October 22. Meanwhile, the legal and market developments continue to shape the trajectory for Google's strategic and operational responses.