China's antitrust investigation into Google, which does not offer most of its consumer-facing services including search and email in the country, seems to make little sense on the surface, but analysts said the move could be seen as a warning shot to the US and a threat to the Android operating system.

The Chinese government’s move to open an antitrust probe into Google is the latest development in a long and entangled relationship that goes back to the early 2000s

The quarter before, for instance, Alphabet beat Wall Street’s EPS estimates by nearly 15 percent, as the chart below from Public.com illustrates.  Notably, Alphabet also announced $75 billion in capital expenditures for 2025 to continue investing in artificial intelligence.