EU fine dents Google profits, but sales beat expectations
Google has continued to give search ads more prominent space on mobile phones, fuelling the strong sales growth in the second quarter of 2018
Google is still raking in marketing dollars from advertisers, propelling the online search giant to another strong quarter in the face ofcostly regulatory trouble in Europe.
Parent company Alphabet second-quarter sales of $26.24 billion during the second quarter. Analysts were expecting revenue of $25.55 billion, according to data compiled by Bloomberg. Google’s advertising business grew 24 per cent.
The company reported two different profit figures to account fora $5 billion (€4.3 billion) fine the EU imposed last week for violating competition law with Google’s Android mobile software. Excluding that, Alphabet said profit was $11.75 a share. Google plans to contest the ruling.
