American tech giant Alphabet Inc., Google’s parent company, reported on Monday its revenue for the second quarter of the fiscal year 2018 stood at $32.7 billion, improving 26% year on year. The firm’s diluted earnings per share for the period amounted to $4.54, decreasing 9% compared to the same three months in 2017. The results were affected by a major European Union fine of $5 billion for competition abuses with Android phone software.
Alphabet’s operating income was $2.8 billion in the second three months of this year, dropping 47% compared to the same quarter of last year. Meanwhile, operating margin stood at 9%, also down compared to an operating margin of 16% in the same quarter of 2017. The company’s net income for the second quarter of 2018 amounted to $3.2 billion, falling 10% year on year.
“We delivered another quarter of very strong performance, with revenues of $32.7 billion, up 26% versus the second quarter of 2017 and 23% on a constant currency basis. Our investments are driving great experiences for users, strong results for advertisers, and new business opportunities for Google and Alphabet,” said Alphabet and Google CFO Ruth Porat.
Following the release of corporate results, Alphabet shares jumped 4.46% in the aftermarket trade on Wall Street.