In the wake of a record $5 billion EU antitrust fine, Google parent company Alphabet was still able to post a 25% increase in revenue at the end of Q2 (against that same period last year). Financial results for the third quarter of 2018 are in and despite strong profits, Alphabet missed its targets and share prices fell somewhat.
With revenues of $33.7 billion, the company still managed a 21% year-on-year increase, but that still wasn't enough to appease every investor. Alphabet stock dropped roughly 3.3% in the hours after it announced its earnings, due to falling short of projected revenue of $34.05 billion.
Alphabet's net income for the quarter still stood at $9.19 billion, which doesn't seem half bad to me. Nevertheless, it's going to be a tricky time for Alphabet — and more specifically, Google — with legal battles in the EU and various controversies about its past and potential practices coming to the fore.