There's good news and bad news for Google's parent company Alphabet The good news is that it once again saw a strong growth in revenue during its most recent quarter, to the tune of 21 per cent year-over-year, surpassing even bullish analyst expectations.
The bad news is that it expects to fork over a good chunk of that revenue to the European Union (EU) as a fine for anti-competitive behaviour.
EU regulators had fined Google $US2.74 billion ($A3.46 billion) in June for giving its own shopping results preference on its search engine. Google at the time said that it was considering to appeal the ruling, but Alphabet nonetheless decided to account for the entire fine as a separate operating charge in Q2.
The company generated a total of $US26 billion ($A33 billion) in revenue in Q2 of 2017, compared to $US21.5 billion ($A27.1 billion) during the same quarter last year.
Net income for the quarter was $US3.5 billion ($A4.4 billion) on an adjusted basis, compared to $US4.9 billion ($A6.2 billion) a year ago - that's where the huge EU fine made a clear dent.
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