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Alphabet lifts revenues in Q1 but profit hit by EU fine, higher R&D
2019-04-30 09:17:00| Telecompaper Headlines
(Telecompaper) Alphabet, the parent company of Google, said revenues for first quarter lifted to USD 36.339 billion from 31.146 billion the year before, an increase of 17 percent that was a bit slower than previous quarters. Profit was hit by the EUR 1.5 billion fine from the European Commission for anti-competitive practices with its AdSense for Search product. This meant that the operating profit fell to USD 6.608 billion from 7.633 billion, while the net profit sank to USD 6.657 billion from 9.401 billion, with diluted earnings per share at USD 9.50 from 13.33. Without the fine, the operating profit would have reached USD 8.305 billion and the net profit USD 8.339 billion. Finally, the operating margin slipped to 18 percent from 25 percent.
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Category:Telecommunications