Plus: Intel plans to cut management roles as its losses widen. And Huawei lobbyists are locked out of the European Commission. Katie Deighton hosts.
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[00:00:31] TNB Tech Minute für Thursday, April 24. I'm Katie Dayton für The Wall Street Journal. Google parent Alphabet today posted quarterly revenue and profit that exceeded analysts' expectations. Despite facing new tough competition from artificial intelligence upstarts, the company's search and advertising unit saw strong growth, with revenue increasing 12% from a year ago to more than $90 billion.
[00:00:55] The company also said it now counts 270 million paid subscriptions, driven by YouTube and Google One, its cloud storage service. Shares rose more than 3% in early after-hours trading. Intel, however, didn't fare so well. The chipmaker's shares fell more than 5% after hours, after the company posted wider quarterly losses of $821 million.
[00:01:21] Intel said it would increase its focus on engineering new products and streamline its business by cutting management positions. And the European Commission has banned officials from meeting with lobbyists for Huawei technologies after Belgian authorities began investigating the company and its staff over corruption allegations. The European Parliament had previously banned Huawei staff from its premises, with the commission following suit last month.
[00:01:47] Huawei didn't respond to a request for comment, but last month said that it has a zero-tolerance policy towards corruption. For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast. Flux Alex