MOUNTAIN VIEW, Calif. _ A multibillion-dollar fine from the European Union slashed Alphabet's second-quarter profit and shareholder gains, but the company still blew past Wall Street predictions for revenue, profit and per-share earnings.
Alphabet, Google's parent firm, on Monday reported second-quarter revenue of $26 billion, well above analysts' predicted $20.9 billion and nearly $5 billion more than in the second quarter of 2016.
In June, the EU slapped Alphabet with a $2.74 billion anti-trust penalty after accusing the company of using its search engine to unfairly direct consumers to its own shopping platform.
The Mountain View tech giant's quarterly profit of $3.5 billion outstripped Wall Street's $3.1 billion expectation, but thanks to the massive EU fine, the quarter's take was a sharp drop from the same quarter in 2016, which saw profit of $4.9 billion.
Earnings per share of $5.01 also beat analysts' prediction of $4.45 but also took a hit from the EU levy. The second quarter of 2016 had netted investors $7 per share.
Alphabet has said it may appeal the EU fine.
