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ALPHABET INC.

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Google U.S. lobbying jumps 27% as lawmakers aim to rein in Big Tech

01/20/2022 | 06:19pm EDT
The logo for Google LLC is seen at their offices in Manhattan, New York City

WASHINGTON (Reuters) - Alphabet Inc's Google reported 27% higher U.S. lobbying expenditures for 2021 compared to 2020, spending $9.6 million for the year, according to the Senate lobbying disclosure database.

That's far below the more than $20 million it spent in 2018 but more than the $7.53 million that went to lobbying in 2020. Google spent $2.2 million on lobbying in the fourth quarter of 2021.

Google's lobbying spend dipped in 2020 as it restructured its government relations teams.

The biggest technology companies, including Amazon.com Inc, Meta Platforms Inc's Facebook and Apple Inc, have been under pressure in Congress over allegations they abused their outsized market power.

A long list of bills have been introduced aimed at reining them in, but none have become law. One of the bills, which would stop the platforms from giving preference to their own businesses, passed the Senate Judiciary Committee on Thursday.

(Reporting by Diane Bartz and Paresh Dave; Editing by Bill Berkrot)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.16% 2116.1 Delayed Quote.-26.96%
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Financials (USD)
Sales 2022 299 B - -
Net income 2022 74 643 M - -
Net cash 2022 141 B - -
P/E ratio 2022 18,8x
Yield 2022 -
Capitalization 1 394 B 1 394 B -
EV / Sales 2022 4,19x
EV / Sales 2023 3,54x
Nbr of Employees 163 906
Free-Float 89,7%
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Mean consensus BUY
Number of Analysts 51
Last Close Price 2 116,10 $
Average target price 3 248,37 $
Spread / Average Target 53,5%
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Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
John L Doerr Independent Director
Ann Mather Independent Director
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