Alphabet's Q2 Profit Triggers Rally, Despite $5.1b EU Fine

Google parent Alphabet on Monday reported second-quarter earnings that pleased Wall Street, even as it booked a $5.1 billion charge to cover a fine levied by European regulators.

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Google parent Alphabet on Monday reported second-quarter earnings that pleased Wall Street, even as it booked a $5.1 billion charge to cover a fine levied by European regulators.

The company reported a profit of $3.2 billion for the three months that ended June 30.

Google has said it will appeal the European fine but Alphabet accounted for it on its books nonetheless. Excluding that amount, the Mountain View, California, company’s earnings came to $11.75 per share, which topped the $9.45 per share expected by analysts surveyed by Zacks Investment Research.

Alphabet Inc.’s stock jumped 3.6 percent in aftermarket trading.