Google parent Alphabet continues to grow its core online ad business along with its constellation side hustles like smartphones and cloud computing. But growth in the ad business slowed in the first quarter of 2019, putting pressure on the company. Furthermore, Google has faced increasing scrutiny from European regulators. In January, French regulators fined it $57 million for violating a new data privacy law while the E.U. levied an additional $1.7 billion fine in March for freezing out advertising rivals. But Google CEO Sundar Pichai dismissed any skepticism, saying the company invests for the long term. Alphabet’s annual revenue rose 23% to $136.8 billion last year, bumping it up seven spots in the Fortune 500.
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This is your Data Sheet newsletter for Monday, June 24, 2019.
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