Google parent company Alphabet posted second quarter earnings for 2018 today, beating Wall Street estimates on revenue and income. Despite the historic $5 billion fine levied against it by the European Union last week, which impacted Google’s operating income, Alphabet stock is actually up around 3.5 percent in after-hours trading. That bolsters the likelihood that the EU fine may be nothing more than a pricey slap on the wrist in the long-run — so long as the fine, which Google is appealing, doesn’t have a substantial impact on Google’s advertising machine.
But one area of Alphabet’s business that only continues to get murkier is its “Other Bets” category, a line item that includes nearly every non-Google division. The category now...
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