According to a report in The Wall Street Journal, Alphabet Inc. (GOOG) subsidiary Google may be charged a "record fine" in its antitrust trial in the European Union in the coming weeks. The report states that the EU may slap a fine of as much as $9 billion (approximately 10 percent of the company's profits for last year) as a penalty for manipulating search results in favor of Google's shopping comparison service. The move could also lead to changes in Google's algorithm and business model.

The article states that the EU is consulting with the people who filed the initial case to discuss how the Mountain View, California-based company should change its display of search results. With a penalty of $1.2 billion in 2009, Intel Corporation (INTC) currently holds the record for the highest fine levied by the EU against a technology company. The EU first brought the case against Google in 2010. After five years of negotiations, current EU Commissioner Margrethe Vestager filed formal charges in 2015. Since then, another case, which involves Google forcing carriers to pre-install its apps, has been filed against the company. (See also: Google Faces EU Antitrust Charges.)

Will This Affect Google's Business in Europe?

There are two ways in which a record fine could affect Google's business in Europe. (See also: Could an Antitrust Investigation Destroy Google?)

The first one relates to profits. While $9 billion is serious money, that amount must be kept within the context of Google's overall revenue. The search giant reported $90.27 billion in global revenue last year. A report last year stated that the company had earned $25.29 billion from its paid advertising business in Europe. The U.K., which is Google's third largest reporting region, accounts for 9 percent of the company revenues. But the company's U.K. revenue may remain intact thanks to Brexit​. On an overall basis, this means that the fine may not translate to a significant change in revenue for the company.

The EU could also force Google to highlight competitors to its shopping comparison site. This has the potential to affect Google's revenue from this service. However, the company does not earn much from comparison sites, which mainly rely on insurance rate comparisons for revenue. According to a report in The Financial Times last year, Google's price comparison site – Google Compare – closed operations last year after garnering a measly market share of 2 percent during its four years of operations. The article further noted that such sites faced "slower growth and higher competition." (See also: Google's 6 Most Profitable Lines of Business.)

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.