Google's parent company, Alphabet, announces massive profits despite $2.74bn fine

Alphabet, the parent company of Google, has reported massive quarterly profits, despite the huge fine imposed on it last month by the European Commission.

The IT giant reported profits of $3.5bn for the first quarter of this year.

Revenue was up 21% compared to the same period last year - at €26bn.

In June, the EC fined the company $2.74bn for breaking anti-trust rules.