How Much Is Google Really Paying Apple To Be Default Search Engine On iOS? Unsealed Court Papers Reveal $20B Figure For First Time
Portfolio Pulse from Benzinga Neuro
Court documents unsealed in an antitrust lawsuit against Alphabet Inc. reveal that Google paid Apple $20 billion in 2022 to remain the default search engine on Safari. This payment is a key focus of the case, highlighting Google's alleged monopolistic control over online search and advertising. The disclosure, marking the first public confirmation of the payment amount, underscores the deal's significance to Apple's financials, constituting 17.5% of its operating income in 2020. The case's outcome, with closing arguments scheduled soon, could impact both companies' strategies and market dominance.
May 02, 2024 | 7:34 am
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Google's $20 billion payment to Apple for default search engine status on Safari is central to an antitrust lawsuit, potentially affecting its market position and financials.
The revelation of the $20 billion payment to Apple places Google in a challenging position, highlighting its efforts to maintain search engine dominance, which could negatively impact investor sentiment and potentially lead to regulatory actions affecting its market position and financial stability.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
Apple received $20 billion from Google in 2022 to keep Google as the default search engine on Safari, significantly impacting its operating income.
The disclosure of Apple receiving $20 billion from Google not only highlights the financial benefit to Apple, contributing significantly to its operating income, but also places it at the center of regulatory scrutiny. This could potentially bolster investor confidence in Apple's revenue diversification and negotiation leverage.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90