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Google revenue jumps 14% to $46 billion, stock soars

October 29, 2020. Summarized by summa-bot.

People walk in Google's main campus as a sit-in to protest against Google's retaliation against workers takes place within Google's main cafeteria in Mountain View, California on May 1, 2019. (Photo by Amy Osborne / AFP) (Photo credit should read AMY OSBORNE/AFP via Getty Images)

Despite a global pandemic, the biggest tech antitrust lawsuit in more than two decades and an escalating battle against accusations of censorship, Google is doing just fine.

San Francisco (CNN Business)Despite a global pandemic, the biggest tech antitrust lawsuit in more than two decades and an escalating battle against accusations of censorship, Google is doing just fine.

The tech giant's parent company, Alphabet, reported revenue of $46. 17 billion for the three months ending in September — a 14% increase from the same period last year — highlighting its continued dominance even while facing numerous obstacles.

The earnings came a day after Alphabet's CEO, Sundar Pichai, faced hours of questioning from lawmakers — along with the CEOs of Facebook and Twitter — over their content moderation policies and accusations of political bias.

Pichai defended his company's handling of content, saying it approaches its work without political bias, "full stop. "

Google was also hit with an antitrust lawsuit by the US Department of Justice last week, the largest such case against a tech company in more than two decades when Microsoft was sued.

The Justice Department alleged that Google has stifled competition to maintain its powerful position in the marketplace for online search and search advertising.

Google refuted those accusations, criticizing the lawsuit as "deeply flawed. "

Google, which also owns YouTube, and other Big Tech firms have their biggest stress test still on the horizon.

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