Alphabet shrugs off EU's record €4.3bn fine

The company had revenues of $32.7 billion for the quarter, which is up 26% year-over-year - extremely impressive for a company of this size. If you were to look at Alphabet's core operations, without taking into account the $5 billion fine, we'd be looking at a quarter with $7.88 billion in operating income - a full $1 billion higher than the same quarter previous year. Android has around 80 percent of the world's market share of smartphones, thanks to Google's model of letting companies use it free but packaging its own services in the heart of the system.

Alphabet's share price rose over 6% in after hours trading as investors shrugged off the long-term impact of the European Union fine.

'We delivered another quarter of very strong performance, ' chief financial officer Ruth Porat said. Today, Google's advertising business alone is responsible for 86 percent of Alphabet's revenues. Advertising was still the main source of revenue, pulling in $28 billion in the second quarter, which was a 24 percent rise from the year-ago period.

"Google reported a high-quality quarter in which the bulk of the top line outperformance vs. CS came from Websites (ongoing strength in mobile search, YouTube, as well as desktop search) followed by Network revenue (AdMob and programmatic)", the analyst Stephen Ju said.

Alphabet, which relies on advertising for the bulk of its business, is facing an increasingly competitive market, as firms such as Amazon make inroads. So-called "other revenue"-which includes revenue from Google's cloud as well as devices like the Pixel phone and the Home speaker-rose 37% to $4.4 billion, or about 14% of its total revenue". According to Commissioner Vestager, Google had sent its letter about a year too late.

Both Alphabet's headcount and taxes increased.

More news: Danica Patrick Parodies 'I, Tonya' at ESPYS with 'Me, Danica'

FILE PHOTO: The waxing moon is seen over the logo of Google at its European Engineering Center in Zurich, Switzerland July 19, 2018.

Still, Alphabet's outlook remains tempered by cost concerns, Canaccord Genuity analyst Michael Graham said in a report this month.

Adjusted Earnings: $US11.75 per share compared to an expected $US11.68.

Which brings us, of course, to Google. According to a report published today, Google's secret attempt to settle with the European Union failed because the company waited too long to offer a settlement plan.

Google, though, has increasingly linked together its services technologically through automated ad-buying tools that empower algorithms rather than humans to pick where ads are placed. The largest Ad Revenue-based 'Net business has now averaged 23% growth for 34 (count 'em) straight quarters & shows no signs of slowing.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Harry Maguire, Anthony Martial, Willian
Jose Mourinho has his eye on England defender Harry Maguire but time is running out for the Manchester United manager to make his move.

Trump Tells CNBC He's 'Not Thrilled' About Rate Hikes
The latest attack by Trump comes amid escalating trade disputes between the U.S. and its trading partners. During an interview with CNBC recorded Thursday, Trump said Fed Chair Jerome H.

Trump hits new high in poll, though Russian Federation issues linger
After the Mueller indictment against 12 Russian officials was announced, Trump went ahead with the planned meeting with Putin. He also said that he trusted the USA intelligence that pointed to the election meddling, according to Inquisitr .

Tesla, China, Both to Benefit From 'Gigafactory' Deal
Following the change, Tesla buyers will only be eligible to receive the full $7,500 federal tax credit until December 31. Putting the factory closer to the market will shorten that process and potentially avoid logistics delays.

Thai cave boys to leave hospital Thursday
The boys' 25-year-old coach , Ekapol Chanthawong, gave his thanks to doctors, the Royal Thai Navy and the prime minister. He was ordered the Knight Grand Cross (First Class) and given the medal of the Most Exalted Order of the White Elephant.

Times Brexiteers Talked Down Chance Of 'No Deal' Brexit That Now Looms
And he urged Mrs May to return to the "glorious vision" of Brexit she set out in a speech back in January a year ago . Here's some of the bookies' favourites to replace her as leader of the Conservative Party.

Democrats want Trump interpreter summoned to testify about his secretive Putin summit
Representative Andy Harris, a member of the Caucus, said: "I disregard and discount anything that involves the mainstream media press".

Disney Prevails In Hunt For Fox As Comcast Drops Bid
We wondered how far this race would last, we need wonder no more as Comcast have officially pulled out of the deal to acquire Fox. Increasing the offer by £1 would add $1.5 billion of extra debt, and $60 million in annual interest costs, Disney has said.

Trump lists Russia, EU, China as ‘foes ahead of Putin summit
Chris Murphy, D-Conn., rejected Bolton's assertion that the indictments put Trump in a stronger position going in to the meeting. Trump says in a television interview that he's going into the meeting with " low expectations ". "I want to tell you".

Bryce Harper cheated in Home Run Derby, Cubs fans allege
The first round started out with a bang, as Hoskins hit 17 out of the park and defeating Aguilar, who had only 12. Harper returned to hit three more home runs in 22 seconds, the last of them inside the right-field foul pole.

Trump Administration to Invite Putin to Visit Washington in Fall
Russian Federation has not yet spoken about any second meeting with the American president. Trump has come under widespread domestic criticism about the meeting.

Vladimir Putin's Umbrella Steals The Show At World Cup Final
Praising a "frank and business-like atmosphere", the Russian leader said he considered the talks "very successful and useful". While both Putin and Trump spoke about the need to discuss arms control issues, they are unlikely to make any quick deals.

Trump Says Cohen Tape Proves 'Your Favorite President' Did Nothing Wrong
Today, the president tweeted , " inconceivable that the government would break into a lawyer's office... nearly unheard of". President Trumps lawyer Michael Cohen exits the US Federal Court on April 16, 2018, in Lower Manhattan, New York .

Owner says doomed duck boat shouldn't have been in water
Ride the Duck's website carries a statement that the company will be "closed for business while we support the investigation". Passengers on a nearby boat told ABC's "Good Morning America" that the water became rough as the wind picked up.

Frank Sinatra’s First Wife, Nancy Sr., Has Died At 101
Gay Talese, in 1966, wrote there was "no bitterness", and instead, only "great respect and affection" between Frank and Nancy. Sinatra was Frank Sinatra's first wife and was the mother to three of the singer's children: Nancy Jr., Frank Jr . and Tina.


More News

News
More News