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Alphabet earnings q2 2017

Sundar Pichai, chief executive officer of Google

Michael Short | Bloomberg | Getty Images

Sundar Pichai, chief executive officer of Google

Alphabet reports second quarter earnings after the bell today, and investors are expecting a drop in profit thanks to a $2.74 billion fine European antitrust regulators slapped on its Google unit, and wider losses on its long-term investments in things like self-driving cars.

Here’s what Wall Street expects, according to Thomson Reuters and StreetAccount:

  • EPS: $4.49 expected
  • Revenue: $25.65 billion expected, up from $21.5 billion a year ago
  • Google sites revenue: $18.3 billion
  • Google network revenue: $4.0 billion
  • Traffic acquisition costs: $4.8 billion
  • Cost per click: (14.6%) from last year
  • Paid clicks: +35.2% from last year

Alphabet has been adding new content as it races Facebook and traditional TV networks for a share of the surging market for digital video ads.

YouTube said in June that it had reaches 1.5 billion monthly users and would add 12 new TV shows to the 37 it already has on its YouTube Red service.

The company is also updating its core search product as more consumers use its service via smartphones.

Still, its drive to innovate has run into a regulatory wall in Europe, where regulators ruled Google used its monopoly position in search advertising to hurt rivals by favoring its online shopping service over competitors, and fined the company $2.74 billion.

On Monday, the company added Google CEO Sundar Pichai to its board, which is already heavy with insiders.

Class A shares of Alphabet are up more than 25 percent so far this year.

This is a breaking news story. Please check back for updates.

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