Profits at Google's parent slump on huge extortion payout

Source: Fortune

"Alphabet reported a 27.7% drop in quarterly profit as the company recorded a previously announced charge related to a record $2.7 billion fine imposed on its Google unit by the EU. EU antitrust regulators last month hit Google with a record 2.4-billion-euro ($2.7 billion) fine for favoring its own shopping service, taking a tough line in the first of three probes of its dominance in searches and smartphone operating systems." (07/24/17)

http://fortune.com/2017/07/24/google-earnings-fine-quarter/