And with insanely aggressive share repurchases:

> The company is aggressively buying back stock, having repurchased a record $12.8 billion in the second quarter, bringing the total so far in 2021 to $24.2 billion.

> The company is on pace to buy back around $50 billion of stock this year. It’s a testament to Alphabet’s earnings power that its cash and equivalents were down less than $1 billion in the first half of the year to $135.9 billion despite the heavy repurchases.

So they "only" have $120 Billion on hand while already spending $25 billion of their cash buying back stock and planning on spending another $25 billion this year.

https://www.barrons.com/articles/alphabets-voting-shares-are...

Looks like the fine is an order of magnitude too low too hurt, at least.

I totally agree with your sentiment. It's sad that a 2.8 Billion USD fine should be considered a big win against a company, but in a regulatory environment where a 10 million USD fine often makes headlines (and is even more often overturned), 2.8B comes a lot closer to being meaningful than one would expect in our current situation.