Google Reports Impressive Profit, Lower Revenue for Q1 2013
April 18, 2013 8:13 PM
Motorola Mobility could do better
Google posted a healthy profit in its earnings report for the first quarter of 2013 today, but its revenue could've been better.
For the quarter ended March 31, 2013, Google reported a net income of $3.90 billion and earnings of $11.58 per share, which is an increase from $3.33 billion in Q1 2012.
Revenue for the first quarter was $13.97 billion, representing a 31 percent increase year-over-year. However, it was a decline from the previous quarter's $14.4 billion.
Cost per clicks dropped 4 percent year-over-year, but paid clicks jumped 20 percent.
Google's Motorola division isn't doing so hot, as it posted revenue of $1.02 billion for the most recent quarter compared to $1.51 billion for Q4 2012.
Just last month, Google announced that it was further
cutting its Motorola workforce by 10 percent
(which equates to about 1,200 employees). This was in addition to the 20 percent (about 4,000) workers cut last August.
In addition to these cuts, Motorola took another hit from Google when the company's CFO -- Patrick Pichette -- said that Motorola phones
weren't innovative enough
"[Motorola's pipeline are] not really to the standards that what Google would say is wow -- innovative, transformative," said Pichette. "We've inherited 18 months of pipeline that we actually have to drain right now, while we're actually building the next wave of innovation and product lines."
So far, a few Motorola releases for Android include the
Droid RAZR Maxx HD and the Droid RAZR M
“We had a very strong start to 2013, with $14.0 billion in revenue, up 31% year-on-year,” said Larry Page, CEO of Google. “We are working hard and investing in our products that aim to improve billions of people's lives all around the world.”
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
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