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Google is still making money despite $2.7 billion EU fine
Google parent company Alphabet just announced its financials for the second quarter of 2017, and it looks like the company took a big hit from the record fine the EU dropped on it late last month. Alphabet's total net income for the quarter came in at $3.5 billion -- that's down significantly from $4.9 billion it pulled in a year ago. However, Alphabet was quick to note that without the EU's heft $2.7 billion fine, net income would have come in at $6.3 billion. So this quarter's drop isn't about any fundamental issue in the Alphabet business, as the company doesn't expect to be paying fines like that on a regular basis.
