Alphabet Running At Full Steam Despite Heavy EU Fine

Alphabet continued its hot growth streak in the second quarter of 2017 with more than $26 billion in total revenue, up from $21.5 billion during the same period last year.

The ad giant saw its operating income decrease from about $6 billion in Q2 2016 to $4.1 billion due to a $2.7 billion fine from the European Union that accrued in the previous quarter.

It’s a heavy enough fine for even Alphabet to feel, but hardly dampens Google’s roaring engine. The company’s search, ad network and YouTube ad revenues were up $2.5 billion from the previous year, and headcount grew almost 25% to more than 75,000 employees.

Alphabet also announced Monday that Sundar Pichai, who was promoted to Google CEO in 2015, will join the holding company’s board of directors.

“Sundar has been doing a great job as Google’s CEO, driving strong growth, partnerships and tremendous product innovation,” said Google co-founder and Alphabet CEO Larry Page in a press release.

More to come …

This post was syndicated from Ad Exchanger.