Google Q1 2014 earnings deliver $15.4 billion in revenue

Google reported its results for the first quarter of the year today, posting revenue of $15.42 billion and earnings per share of $6.27. That missed analysts' estimates of $15.52 billion in revenue and earnings of $6.42 a share. That's a miss on the top and bottom line, and the stock is trending down in after-hours trading.

Mt. Gox abandons rebuilding plans and files for liquidation: WSJ

Mt. Gox, the embattled bitcoin exchange that filed for bankruptcy protection last month after losing almost half a billion dollars' worth of customers' virtual funds, is now reportedly asking a Tokyo court for permission to liquidate. According to The Wall Street Journal, the once leading exchange has abandoned its attempt to rebuild the business under bankruptcy protection due to the complexity and unrealistic nature of the plans.

One source says that Mt. Gox is still attempting to find a buyer, which may entitle creditors to a portion of future earnings. But the exchange's decision to file for liquidation after planning rehabilitation means those with substantial investments are likely to get less of their money back. The court still has to approve Mt. Gox's request, at which point a trustee would assume CEO Mark Karpeles' control over the company's assets.

Mt. Gox representatives were not immediately available for comment when contacted by The Verge.

Rehabilitation said to be complex and unrealistic


The inventor of everything

It’s a sunny morning in Camarillo, California, and the fields along Pleasant Valley road are full of berry pickers in colored sweatshirts moving swiftly to gather ripe fruit. I take a left turn down Calle San Pablo into an unassuming industrial...

Advertisers are spending more money on the internet than on TV for the first time ever

Internet ads are as old of the internet itself, but broadcast television always remained the place advertisers spent most of their money — despite the millions and millions spending hours every day online. However, that balance has been upset for the first time: according to the Interactive Advertising Bureau (IAB), internet ad revenues for 2013 hit $42.8 billion, surpassing broadcast TV ad revenues of $40.1 billion.

While ubiquitous search ads still makes up the largest piece of that...

Wordpress owner Automattic buys Longreads

Automattic, the company behind publishing platform, has acquired the curation service Longreads for an undisclosed price, the companies announced today. Longreads serves up one magazine-length recommended story per day through its...


Walmart plots a low-price takeover of the organic food market

Ask 10 different people to tell you what constitutes organic food and you’re likely to get 10 different answers. Ask them whether organic is better, however, and nine of them will say that it is. That’s the data coming from Walmart’s internal research, which found that 91 percent of the giant American retailer’s customers would opt for organic foods if their prices were lower than they currently are. Never one to neglect market demand,...

Carl Icahn drops bid for eBay to spin off PayPal

eBay has struck a deal with activist investor Carl Icahn to drop proposals for the company to spin off PayPal through an IPO, letting eBay take advantage of the market's big demand for new tech firms. While it appears that Icahn has lost this battle, he comes away with one significant concession: eBay has agreed to add a new member to its board, as selected by him. That member, David Dorman, was previously the CEO of AT&T and currently holds...

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