Despite EU Fine, Google Marches on Towards Trillion Dollar Mark
Taking the latest $v billion fine by the European Commission into account, Google'south parent company Alphabet reported $26.24 billion in acquirement for the quarter that ended on June 30, making a turn a profit of $3.2 billion while beating Wall Street expectations.
Excluding the fine, the tech giant would have had $32.6 billion in acquirement and a profit of $8.2 billion.
"We are analyzing the decision and I think it's too early to comment or speculate beyond what we've already said, but nosotros will e'er accept a constructive approach," Google CEO Sundar Pichai said during the visitor's earnings phone call with analysts late on Monday.
Riding on the Search engine and YouTube growth, Google'southward revenue jumped 26 per centum to $23.3 billion.
"We delivered another quarter of very potent operation, with revenues of $32.7 billion, upward 26 percent versus the second quarter of 2017 and 23 pct on a abiding currency basis," Ruth Porat, CFO of Alphabet, said in a statement.
"Our investments are driving peachy experiences for users, potent results for advertisers, and new business opportunities for Google and Alphabet," Porat added.
Traffic acquisition costs, a fundamental metric in Google's ad business, went upward to 23 percent of ad revenue in the second quarter.
Last week, US President Donald Trump attacked the European union (Eu)for the fine slapped and said: "The European Union but slapped a $five billion fine on one of our nifty companies, Google," Trump tweeted. "They truly accept taken advantage of the U.s.a., only not for long!"
The European Commission fined Google for monopoly with its Android operating organization, accusing information technology of violating the EU competition rules.
"I'm confident we detect a way to make sure Android is available at scale to users everywhere," Pichai said during the call with analysts.
Source: https://beebom.com/despite-the-eu-ban-google-marches-on-to-1-trillion/
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