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00:00:01
>> Google's parent, Alphabet, on Monday delivering better-than-expected earnings in the second quarter, and investors brushed off any potential impact a record $5 billion antitrust fine in Europe could have on the company. Reuters correspondent Paresh Dave.>> Part of it was that their ad business continues to do stellar, posting greater than 20% growth compared to the previous years.
00:00:30
Another big change is that Google is getting their costs in check. They pay a fee to Apple, to Mozilla, the Firefox browser maker, and a lot of other companies to distribute the Google search engine, and those costs are finally starting to slow down in terms of growth. So it's a positive thing that investors have been waiting to look for.
00:00:50
And all this comes as the company is battling regulatory battles around the world. Privacy issues have really affected Google and Facebook perception-wise in the public the last few months, but it's not at all having an effect on their business.>> The European Commission slapped the fine on Google last week, accusing it of using the Android mobile operating system to push its business.
00:01:18
Android is used by four out of five smartphones in the world. Google has said it is appealing the charges. In addition to its main advertising business, Alphabet's other units also gave a better-than-expected performance, showing they could bring in more revenue in the future.>> Waymo will be starting a commercial operation, driving self-driving cars in Arizona later this year.
00:01:44
And Loon, a company that is under Alphabet and delivering Internet through balloons, just recently launched a couple of commercial deals.>> Investors pleased with Google's results pushed up the stock nearly 5% Tuesday.