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What you need to know in advertising today

July 25, 2018 / LAUREN JOHNSON

Google's parent company, Alphabet, boosted its revenue by 26% in the second quarter, outpacing Wall Street targets and delivering strong growth even as the company absorbed a hefty $5 billion fine from European regulators. Shares of Alphabet were up 4% in after-hours trading on Monday. Google executives credited the company's mobile advertising business and the expansion of its cloud-computing business for the healthy revenue growth. Google CEO Sundar Pichai cited important new customers for the cloud business, including the retail superstore Target, which he said was migrating key areas of its business to the Google Cloud platform. Also during Google's second-quarter earnings conference call on Monday, Pichai revealed an intriguing piece of information that hints at Google Translate's moneymaking potential.