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As expected, the company's net income was hurt by a record $5 billion antitrust fine imposed by the European Commission.

Alphabet's overall revenues continue to be largely derived from advertising on Google's own properties and its network members' properties, to the tune of $28 billion for the quarter.

The future of the Android mobile operating system - which powers more than 85% of smartphones - has been clouded by the European Union action, which could forceGoogleto change its business arrangements with device makers.

Pichai was also circumspect about the company's cloud business, so as not to spoil expected announcements at Google Cloud Next '18, a conference focused on the Google Cloud Platform that opens in San Francisco on Tuesday.

"Google reported a high-quality quarter in which the bulk of the top line outperformance vs. CS came from Websites (ongoing strength in mobile search, YouTube, as well as desktop search) followed by Network revenue (AdMob and programmatic)", the analyst Stephen Ju said.

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Alphabet shares also have been lifted, according to analysts, by a forecast that expense growth would level off in the second quarter because the company entered the second year of a costly deal to make Google the default search provider on iPhones.

Business Insider has contacted Google for comment. The company's stock took a slight hit after news of the fine broke last week, but it was trading at $1,211 per share at market close, up 7 percent over the past month.

Even if Google's unsuccessful in fighting the fine, $5 billion is hardly a major setback for the company, which reported total revenue of $32.7 billion this quarter alone.

Google parent Alphabet spent a whopping $5.5 billion on capital expenditures in the most recent quarter, almost doubling that output from a year ago as the company continues to expand its cloud business. Chief Financial Officer Ruth Porat said most of that came from mobile and automated ads. Google plans to contest the ruling. It is gaining ground on Amazon, the ecommerce giant that is the world's second... Google's advertising business grew 24% over the quarter. That leaves the infamously opaque "other revenues" segment - including the hardware business, Play Store, etc. - to bring in $4.4 billion in revenue.

Alphabet's "other bets", investments in less established ventures like Calico, Fiber, Nest, Verily, and Waymo, posted an operating loss of $732m, about $100m more than the year-ago quarter, on revenue of $145m.


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