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- Spain win, Argentina off mark in Olympic men's football
- Root leads England revival against the West Indies in third Test
- Australia's Brown defies the rain to win Olympic time-trial gold
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- France, Fiji set up dream rugby sevens Olympic final
- Leon Marchand: the 'shrimp' who became the great French Olympic hope
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- Djokovic sweeps into Olympics second round and potential Nadal clash
- Brazil teenager Endrick unveiled by Real Madrid
- Britain's Whitlock negotiates 'crazy' first pommel horse Olympic hurdle
- Swiatek shines at rain-swept Olympics tennis
- US hails 'productive' meeting between Blinken and China FM in Laos
- Health ministry in Hamas-run Gaza says 30 killed in school strike
- Beach volleyball starts in pouring rain at landmark Paris venue
- Root and Stokes repel West Indies after England collapse in third Test
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- World number one Swiatek into second round of Olympics tennis
- Zhang urges fans to 'look at facts' of China doping furore
- Ledecky edges Titmus in Olympic 400m free heats as Peaty kickstarts campaign
- Relaxed Peaty begins bid to match Phelps' record
- Chang, Chen bag Olympic diving gold for China
- Top China, US diplomats begin meeting in Laos
- First Olympic medals up for grabs as rain disrupts Games
- Epic pool rivalry lights up first day of Olympic medal action
- IOC apologises for South Korea gaffe in Olympics opening ceremony
- Bangladesh says student leaders held for their own safety
- Japan's Sado mines added to World Heritage list
- 'Windmill love' sees Dutch artist become mill operator
- US defends law forcing sale of TikTok app
- Messi out for defending champ Miami as Leagues Cup begins
- Australia bans uranium mining at Indigenous site
- Divers attempt to reach sunken Philippine oil tanker
- Trump accuses Harris of anti-Semitism in overblown speech
- Coughlin clings to lead at LPGA Canadian Women's Open
- Trump offers tech sector policy flips ahead of election
- Spacecraft to swing by Earth, Moon on path to Jupiter
- What's the fallout of Mexican drug lords' capture?
- Video game makers see actors as AI 'data,' says union on strike
- Chinese qualifier Shang to face Thompson in ATP Atlanta semis
- 'Massive attack' on French rail threatens more chaos
- 'We did it!': France breathes sigh of relief after Olympics ceremony
- Regional concern grows as Venezuela blocks vote observers
- Historic river parade, Dion show-stopper ignite Paris Olympics
- Rainy Paris Olympic parade dampens many spectators' spirits
- The one of a kind Paris opening ceremony: five memorable moments
- Justin Timberlake seeks to dismiss DUI case
Google parent Alphabet nearly doubles annual profit
Google's parent firm Alphabet announced quarterly profits Tuesday that beat expectations and nearly doubled in 2021 -- after a booming holiday season for the online ads giant facing anti-trust scrutiny.
Google dominance online has powered it to new heights during the pandemic period, but has also left it in the sights of regulators around the world.
The tech giant had net income of $20.6 billion on revenue that grew 32 percent to $75 billion in the final quarter of 2021, ending the year with a total of $76 billion in profit.
That was nearly double the $40 billion annual profit reported for 2020, as the pandemic had already accelerated a shift to online shopping, working and learning that also benefited fellow giants like Amazon and Facebook.
Alphabet CEO Sundar Pichai cited "strong growth in our advertising business... a quarterly sales record for our Pixel phones despite supply constraints, and our cloud business continuing to grow strongly" for the success.
In all, Google earned more than $61 billion in advertising revenue, mostly from online search and its video platform, while its cloud business grew by 45 percent to $5.5 billion in revenue.
Alphabet's strong earnings come after Apple, another pandemic-era winner, reported record revenue last week as markets were jittery about tech's future as well as geopolitical risks like the Ukraine crisis.
However, regulators' scrutiny around the world is stacking up as one of the most significant risks for the Silicon Valley giant.
"Google has the biggest uphill battle in terms of antitrust issues among all of the Big Tech companies," Third Bridge analyst Scott Kessler wrote.
"Despite Apple's bigger size and Meta/Facebook's bad publicity, Google is seen most at risk in terms of US antitrust law," he added.
- Retail ads help push growth -
Just last week, a group of top US justice officials accused Google in lawsuits of tracking and profiting from users' location data, despite leading consumers to think they could protect their privacy on the tech giant's services.
These suits are the latest legal threats against Google and other US Big Tech giants, which have long faced probes and court cases but a lack of new national laws that would regulate their businesses.
The courts and legislatures are not moving fast. Two weeks ago, for example, Google appealed a European court ruling that upheld a €2.4 billion fine imposed by Brussels in 2017 for anti-competitive practices in the price comparison market.
Alphabet's expectations-beating results offered positive signals even as diminishing growth shadowed firms like lockdown lifestyle champ Netflix.
Netflix lost tens of billions of dollars in market capitalization last month -- but has rebounded -- after projecting growth of just 2.5 million subscribers in the first quarter.
Fortunes were quite different for Google, with Alphabet saying its board had approved a 20-to-1 stock split that would make shares more affordable to small investors.
The firm predicts that its growth will continue in 2022, with digital advertising expected to bring in more than $171 billion to Google this year, or 30 percent of the global pie, just ahead of Facebook.
"In the fourth quarter, retail was again by far the largest contributor to year-on-year growth of our ads business," Alphabet CBO Philipp Schindler told analysts.
"Finance, entertainment and travel were also strong contributors," he added.
The stock was up nearly nine percent in after-market trades Tuesday at 2240GMT to $2,988.
E.Ramalho--PC