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Actionable news in GOOGL: GOOGLE Inc CLASS A,

Alphabet shares drop after it reports lower profit on huge EU fine

Alphabet reported a drop in second-quarter profit thanks to a $2.74 billion fine European antitrust regulators slapped on its Google unit.

Shares are off almost 3% in after hours trading.

Here are the numbers:

  • EPS: $5.01 versus $4.49 expected
  • Revenue: $26.01 billion, up from $21.5 billion a year ago
  • Paid clicks: +52% from a year ago
  • Cost per click: (23%) from a year ago

The drop in cost per click -- the amount advertisers are paying each time a user clicks on an ad served by Google -- dropped 23%, much higher than the 15% analysts...