Alphabet Falls on Concern About Rising Google Traffic Costs - Bloomberg

Also see Alphabet Announces Second Quarter 2017 Results (Alphabet Investor Relations)

"The company accounted for the fine as a one-time dent on profit during the quarter, bringing net income to $5.01 per share. Analysts were expecting $4.45 per share, including the EU fine, according to figures compiled by Bloomberg.

Spending on Alphabet’s “Other Bets” fell sharply during the quarter. Porat attributed this to an ongoing retreat in the expansion of its Google Fiber fast internet service. 

Still, spending on Google’s businesses increased. In particular, the company has plowed money into its cloud-computing business, which Porat said was one of the fastest-growing divisions. Google said it won three times as many cloud deals exceeding $500,000 as it did last year. That was the most the company has disclosed about its cloud sales to date."

Alphabet Falls on Concern About Rising Google Traffic Costs - Bloomberg