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Google has been penalized for violating the laws of competition
Sebastián Montes – [email protected]
The parent company of Google, Alphabet recorded revenue of 32,700 million US dollars in the second quarter of the year, exceeding market expectations which placed the amount of income at US $ 32 170 million. This outlook reflects a 23% growth in business, the company said in a statement
. Following the rebound, Reuters reported that Wall Street's Alphabet shares rose 6% after closing. The Market of Yesterday
The impact that advertising sales reflect on Google's revenue is mainly due to its policy of giving search-targeted ads a more meaningful space in mobile phones.
Bloomberg reported that spending on Google Shopping search ads increased by 31% in the second quarter of 2018.
Alphabet posted adjusted earnings of $ 11.75 per share in the second quarter, excluding the impact of a more than $ 5 billion fine that the European Union imposed on Google last week for requiring pre-installation of its search request and the Chrome browser application, as a condition for the license of its application store, which led to the violation of competition laws of the group of European countries.
Including the fine of the European Union, the second quarter net income Google's business figure accounted for the lion's share of Alphabet's revenue, reaching 28 billion second quarter, an increase of 23.9% over the previous year. On the other hand, Google's other revenue, which includes its hardware and business cloud sales, amounted to $ 4.4 billion, up 36.5%, according to the Cnbc chain.
Meanwhile, the company 's capital expenditures reached $ 5.5 billion, almost double $ 2.8 billion last year.
"Our investments generate great experiences for users, good results for advertisers and new ports. business units for Google and Alphabet ", said the company's chief financial officer, Ruth Porat.
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