AAPL Stock: 109.5 ( -1.28 )

Printed from

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 MacNN Staff



Login Here

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


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Polk Hinge Wireless headphones

Polk, a company well-established in the audio market, recently released a new set of headphones aimed at the lifestyle market. The Hin ...

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...


Most Commented