A Swedish court has ruled that Google illegally favored its own price-comparison service over rival PriceRunner in search results, awarding approximately 1.3 billion euros (roughly $1.5 billion) in damages to Klarna, which acquired PriceRunner. The ruling marks one of the largest antitrust damages awards against Google in Europe and follows years of regulatory scrutiny over how Google surfaces its own products above competitors. Sources diverge slightly on the exact figure — between 1.3 billion euros and 1.5 billion dollars — but all confirm a damages award in that range.
While $1.5 billion is manageable for Alphabet given its cash reserves, the ruling sets a precedent for private antitrust litigation against Google in European courts, potentially opening the door to a wave of copycat claims. Investors in Alphabet should watch for increased legal liability exposure across the EU, which could weigh on margins over time. Klarna, preparing for its IPO, gets a meaningful financial windfall that could strengthen its balance sheet going into its public debut.
Klarna IPO: expected mid-2025 on NYSE. Alphabet Q2 earnings: late July. EU Digital Markets Act enforcement reviews: ongoing throughout 2025.
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