Google Shares swelled more than 6% in after-market trading.
Economic uncertainty spurred by President Trump’s tariff yo-yoing has sent markets on a wild ride of ups and downs this month. This week, stocks are largely surging on optimism that Trump will continue to soften his tariff posture, with S&P 500, Dow, and Nasdaq all popping.
Despite the broader market rally, Google’s stock has sunk about 15% year-to-date.
In the background, Google is battling two damning antitrust rulings. This week, it kicked off a remedy hearing with the U.S. Justice Department after a federal judge determined last year that the tech giant operates an illegal monopoly in the online search market. And just last week, a court ruled that Google’s adtech business also violates U.S. competition law.
The key quote
“More businesses, big and small, are adopting AI-powered campaigns, and the deployment of AI across our ads business is driving results for our customers and for our business,” said Schindler. “Throughout 2024, we launched several features that leverage LLMs to enhance advertiser value, and we’re seeing this work pay off. The combination of these launches now allows us to match ads to more relevant search queries, and this helps advertisers reach customers and searches where we would not previously have shown their ads.”
