Earnings Outlook: Alphabet earnings: A $2.74 billion hit for Google, potential YouTube results for investors

As it gears up for a second-quarter earnings report scheduled for Monday, Alphabet Inc. is already accounting for a $2.74 billion hit and may be preparing to reveal some long-awaited numbers.

The European Union’s antitrust regulator fined Alphabet GOOG, +0.49%GOOGL, +0.17% the record charge at the end of June after finding that Google promoted its own shopping service above others in its search results. Though the company is still considering an appeal of the ruling, it says it will recognize this charge in this quarter’s results.

The fine is not tax-deductible, so it will reduce Alphabet’s net income and earnings per share data by the full amount, the company says.

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