News Summary

• Google's $120 billion in Q2 revenues accounted for a 24% annual increase, putting the much spoken-of $1 billion, or €890 million, fine for breaching the EU’s Digital Markets Act into perspective.
• Google has never defined itself as an advertising or media company, but to adapt a phrase popularly attributed to adland doyen Martin Sorrell: if the majority of your revenues come from media, then you’re a media company.
• The growth of Google Cloud (82%) dwarfs that of all other divisions (see chart below)