Google loses battle to cover 2021 cash pit: $26B in default contracts

Prabhakar Raghavan, a senior vice president at Google (where he is responsible for Google Search, Assistant, Geo, Ads, Commerce, and Payments products), speaks during a 2018 event.

Enlarge / Prabhakar Raghavan, a senior vice chairman at Google (the place he’s answerable for Google Search, Assistant, Geo, Advertisements, Commerce, and Funds merchandise), speaks throughout a 2018 occasion. (credit score: Bloomberg / Contributor | Bloomberg)

On Friday, Google began defending its search enterprise through the Justice Division’s monopoly trial. Among the many first witnesses referred to as was Google’s senior vice chairman answerable for search, Prabhakar Raghavan, who testified that Google’s default agreements with makers of widespread cellphones and net browsers have been “the corporate’s largest price” in 2021, Bloomberg Regulation reported.

Raghavan’s testimony for the primary time revealed that Google paid $26.three billion in 2021 for default agreements, seemingly investing in default standing for its search engine whereas raking in $146.four billion in income from search promoting that 12 months. These numbers had elevated “considerably” since 2014, Massive Tech on Trial reported, when Google’s search advert income was roughly 46 billion and site visitors acquisition price was roughly $7.1 billion.

Previous to Raghavan’s testimony, Google had been rigorously guarding this info. In response to Bloomberg, Choose Amit Mehta overruled Google’s objections to revealing the numbers, regardless of Google’s claims that such transparency might hurt future offers.

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