Alphabet

Ticker GOOG

Today's data summary

Market closed
% change
+0.57%
Price US dollars
1207.77
Change
+6.81
As of 23:49 20 Aug 2018
Market cap. US dollars
422,578.79 million
As of 23:49 20 Aug 2018

Latest updates

Google 'shrugs off' massive fine

Today Programme

BBC Radio 4

Google logo
Reuters

A massive fine from the European Union hasn't knocked Alphabet off course.

The owner of Google reported stronger than expected sales in the three months to the end of June.

Alphabet earned $32.7bn in revenue in the three months to the end of June, up by more than a quarter on the same period last year.

"It has this dominance of search. 80% of worldwide internet traffic on mobile devices is run off its Android mobile platform, so it can shrug off things even like a $5.1bn fine from the EU, " said Stephanie Hare, technology researcher.

Early this month the European Union slapped a $5bn fine on Google for abusing the dominance of its Android operating system.

"Is Google going to take this EU decision as a signal that they can't mess around anymore and they're going to have to build their technology in a way that it can be plug and play and allow greater customer choice?" Ms Hare said.

Google's Android woes

Today Programme

BBC Radio 4

Google logos
Getty Images

Yesterday the European Commission fined Google €4.3bn over Android which the search giant said it was going to appeal.

Kathleen Brooks, research director at Capital Index, says Google has 90 days to overhaul the Android operating system, and the firm "definitely don't want to do that".

"If they don't they could end up being fined 5% [of Google owner Alphabet's] daily revenue... that's on top of the €4.3bn - it's huge."

That is why they have applied to the European Court of Justice to intervene to delay the ruling, she says.

The race to one trillion dollars

Apple, Amazon, Alphabet: The race to one trillion dollars
Many analysts predict that at some point this year, at least one US tech firm will become America's first trillion dollar company. Dave Lee looks at the contenders and what they have to do to reach that incredible milestone.

Video journalist: Cody Godwin