Alphabet profits hit by record EU fineJuly 25, 2017 - 16:00 AMT PanARMENIAN.Net - Profits at Alphabet, the parent company of search giant Google, have been hit by the record fine imposed by the European Commission last month, according to BBC News. The firm said it saw strong growth in the second quarter, with revenues of about $26bn, up 21% compared to the same period in 2016. But profits for the three months to the end of June were $3.5bn, more than 40% lower than they would have been without the fine. Year-on-year profits fell almost 30%. Google was fined 2.42bn euros ($2.7bn) by the European Commission last month after it ruled the company had abused its power by promoting its own shopping comparison service at the top of search results. The amount was the regulator's largest penalty to date against a company accused of distorting the market. Alphabet has already said it may challenge the fine. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | About 32,000 rally in Yerevan to deman Pashinyan’s resignation About 31,700 people attended an opposition rally on Thursday, May 9 in Yerevan demanding the resignation of Prime Minister Nikol Pashinyan. Armenian, Azerbaijani Foreign Minister to meet in Almaty Armenian Foreign Minister Ararat Mirzoyan and his Azerbaijani counterpart Jeyhun Bayramov will meet in Almaty. Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. |