This is reported by The Financial Times.
Note that this is the largest drop in net profit since 2008.
At the same time, the company's revenue increased by 21%, to $ 26 billion, compared to the second quarter of 2016. However, it was expected earlier that the company's revenue will be at the level of 25.65 billion, the newspaper notes..
In the beginning of July, Alphabet fine of the European Commission will reduce net profit in the second quarter by about $ 2.74 billion.
By the way, the total number of conversions on advertisements in April-June increased by 52% in annual terms.
For eight consecutive quarters this indicator exceeds 22%, whereas a year before that, the growth rate slowed down. In addition, the cost of each click dropped by 23%.
Recall, as previously reported, "URA-Inform, in China, the Internet is subjected to strict censorship. In particular, the country banned most messengers, as well as blocked Facebook, Twitter, YouTube and Google's search engine.