Google's Earnings Brings it Closer to $1 Trillion
Google parent company Alphabet just reported earnings today, and the results outperformed expectations. Google Play Store revenues and advertising business saw admirable growth, and their guidance for the future seems rather positive. Google's "other bets", which include the self-driving car company Waymo and Nest, reported greater revenues, but faced increased expenses. Overall, these are positive news, considering that the company was hit with a massive $5B fine from the EU over antitrust issues. The EU claimed that the Google Play Store restricts competition as it automatically comes pre-installed with Google's suite of apps, such as Google Search, which is forced upon manufacturers by Google as a way to empower and encourage its search engine. Due to this fine, Google's net income decreased from $8.3B to $3.2B for the quarter. This reveals how consistent government trouble can cause a major hindrance to the company's long term growth. In fact, Googl...