Penalty EU pressured Google parent company

VISION OF THE MOUNTAIN (AFN / BLOOMBERG) – The parent company of Google Alphabet was fined for the last quarter of 4.34 billion euros from the European Commission less profit than a year earlier. The technology giant, however, has seen its sales increase significantly.

Last week, Alphabet van Brussel was told that it should be heavily polluted due to unfair competition from its Android mobile operating system. The company must also revise its contracts with phone manufacturers and telecom operators, the European Commission asks. Google has already announced that it would appeal against the fine, but it already included the fine in the second quarter results.

Net income reached just under $ 3.2 billion in the quarter, compared to over $ 3.5 billion the year before. Excluding the fine of just over $ 5 billion, analysts' expectations have been largely outpaced. This also applies to sales that rose 26 percent to $ 32.7 billion.

Google can look back on a strong period. The search and advertising company, despite tougher European privacy legislation that was launched on the market in May, received more advertising on mobile devices. In addition, 37% more were earned in cloud services, which earned $ 4.4 billion.

Alphabet has performed well in overtime in New York and can hit a record high on Tuesday. Other tech companies have also benefited from Google's boon. Facebook, Netflix, Amazon and Apple also rose after the peer figures.