Jul
25
Google Profits Drop $2.7B on the Back of EU Fine, While Brand Safety Has Zero Impact
Posted in: Uncategorized
Alphabet-owned Google saw its advertising revenue surge once again thanks in large part to its stranglehold on search advertising, YouTube and its digital ad business, the company said Monday during its second quarter earnings call.
Overall, Google saw revenue of $26 billion for the quarter ending June 30, a 21% uptick from the same time last year.
Although revenue was up, Google’s stock was down in after-hours trading to roughly $968. Not because of brand safety issues, but because of a massive fine levied by the European Commission.
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