EU fine to cut Google parent Alphabet's profit by $2.7 bn
The largest ever fine of $2.7 billion slapped by the European Union regulators for antitrust on Google will cut its parent company Alphabet's second-quarter profit by the full amount of $2.7 billion. Alphabet plans to report the fine in a separate operating expense line, which is not tax deductible. Analysts expect Alphabet to report a net income of $5.78 billion.