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Mountain View (APA / AFP) – As a result of the EU's record penalty, the profits of Google's parent company, Alphabet, dropped significantly in the second quarter. Alphabet announced Monday a 9.3% drop to $ 3.2 billion (2.7 billion euros), but revenues grew by more than a quarter compared to the same period of last year, because of high advertising revenue. It increased 25.5% to $ 32.7 billion.
Despite the EU's penalty, Alphabet outperformed badysts' expectations. Advertising revenues increased by $ 28 billion alone – an increase of 24% over the same quarter last year. In addition, the balance sheet of benefits seems much better when the effects of the penalty of the EU are excluded. Earnings per share was $ 11.75 excluding special items – badysts expected $ 9.54
The European Commission fined Wednesday $ 4.34 billion to Google for 'Illegal practices' on the mobile Android operating system imposed. European competition authorities have accused the company of imposing "illegal restrictions since 2011 on mobile phone and tablet manufacturers as well as mobile operators". Google has announced an immediate call and must pay the penalty for the moment. Nevertheless, the company had already put in place provisions that had a negative impact on its results.
~ ISIN US02079K1079 US02079K1079 WEB https://www.google.at/
https://abc.xyz/ ~ APA464 2018-07-23 / 23: 28
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