Printed from http://www.electronista.com

Google pays $500m for DOJ antitrust investigation

updated 10:20 pm EDT, Tue May 10, 2011

Charge brings net income down to $1.8 billion

Google has submitted a revised 10-Q filing with the Securities and Exchange Commission, revealing a $500 million charge associated with a Department of Justice investigation. Although the search giant did not formally announce any issues with the DoJ, the filing suggests the money is being set aside to accommodate a "potential resolution" to an investigation over advertising.

"Although we cannot predict the ultimate outcome of this matter, we believe it will have a material adverse effect on our business, consolidated financial position, results of operations, or cash flows," the filing notes.

The exact nature of the investigation remains unclear, as the filing merely notes that the DoJ was looking into "Google advertising by certain advertisers."

The revision effectively drops Google's net income from $2.3 billion to $1.8 billion for the quarter. [via GeekWire]



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News