NEW YORK, April 30 — Google-parent Alphabet Inc missed Wall Street estimates for first-quarter revenue yesterday, amid increased scrutiny on the company's privacy practices and efforts to restrict advertising on potentially offensive content.
The company reported a net income of US$6.66 billion (RM27.5 billion), or US$9.50 per Class A and B common share and Class C capital share in the three months ended March 31, from US$9.40 billion, or US$13.33 per share, a year earlier.
The latest quarter results included a US$1.7 billion fine by the European Commission for having placed anticompetitive advertising restrictions on websites using its search widgets.
Revenue jumped 16.7 per cent to US$36.34 billion.
Excluding the fine, the company earned US$11.90 per share.
Analysts on average had expected revenue of US$37.33 billion, according to IBES data from Refinitiv. — Reuters
