Google Misses Wall Street Earnings, Revenue Expectations for Q2 2013
July 19, 2013 9:44 AM
comment(s) - last by
But revenue saw a 19 percent boost from the year-ago quarter
second quarter earnings report
is out, and while revenue is up from this time last year, earnings didn't look quite as good.
For Q2 2013, Google reported $14.11 billion in revenue, which is a 19 percent increase from the year-ago quarter. However, Wall Street expected $14.41 billion.
Google's Q2 earnings took a tumble, coming in at $9.71 per share compared to $10.13 per share in the year-ago quarter. Analysts expected $10.78 per share for the most recent quarter.
These numbers didn't seem to please investors. Google shares closed at $911 yesterday, which was down from a previous close of $919. According to
, Google shares were expected to open 4 percent lower today after brokerages cut price targets as low as $860 from highs like $915.
Another reason for the lower price targets is Google's changes to its advertising system in order to boost revenue from mobile users. The Android maker started offering the same ads on both PCs and mobile devices earlier this year, but the cheaper ad rates on mobile devices hurt the company's margins.
But Q2 showed that advertising revenue went up 15 percent from $11,902 billion in Q2 of 2012 to $12,061 billion in Q2 2013.
Earlier this month, it was announced that Google and Motorola Mobility were willing to spend as much as
$500 million on Moto X advertising
-- the first flagship phone by Motorola since being acquired by Google.
Google's net income for Q2 came in at $3.23 billion, which represented an increase from $2.79 billion in the year-ago quarter.
“Google had a great quarter with over $14 billion in revenue – up 19% year-on-year,” said Larry Page, CEO of Google. “The shift from one screen to multiple screens and mobility creates tremendous opportunity for Google. With more devices, more information, and more activity online than ever, the potential to improve people’s lives even more is immense.”
Some other interesting points from Google's earnings report is that there are now 750 million Chrome users; 900 million Android devices have been activated to date (with about 1.5 million each day); Google Play has had 15 billion app downloads, and the worldwide employee count fell from 53,891 as of March 31 to 44,777 as of June 30 (mainly due to the loss of Motorola Home).
This article is over a month old, voting and posting comments is disabled
7/19/2013 3:32:50 PM
Pretty funny how DT talks up the Chromebook yet talks down the Surface when the Surface, in it's short time in the market, has outsold what the Chromebook has sold over a two year period.
7/19/2013 4:00:32 PM
The surface program lost MS $900,000,000... That is an Epic Megafail by any measure. Its one thing to not make a ton of money, or even lose a bit on a project, but that's almost a cool billion. I am sure it will be by the end of next quarter LOL.
"Folks that want porn can buy an Android phone." -- Steve Jobs
Google, Motorola Mobility Spending $500 Million on Moto X Marketing
July 11, 2013, 1:49 PM
Google Q2 2012 Earnings Rise 11 Percent, Deals with Falling Ad Prices/Motorola Issues
July 20, 2012, 10:45 AM
Google plans ultra-fast wireless Internet for Research Triangle Park, N.C.
August 12, 2016, 6:30 AM
Twitter Senior VP: "Diversity is Important, But We Can’t Lower the Bar"
November 9, 2015, 9:59 AM
CNN Resorts to Internet Censorship to Promote Clinton Over Senator Sanders
October 15, 2015, 2:47 PM
Breaking Bad: How to Crash Google's Chrome Browser With Just 8 Characters
September 23, 2015, 11:08 AM
Quick Note: Amazon UK Offers £10 Back on Any Order £50 or Over
August 3, 2015, 12:05 PM
Editorial: Reddit Allows Itself to be Hijacked as a Hate Platform For Racist Bigots
July 21, 2015, 6:32 PM
Most Popular Articles
Update: Problem-Free Galaxy Note7s CPSC Approved
September 22, 2016, 5:30 AM
FDA Cleared, Shockwave Lithoplasty for Peripheral Vascular Disease
September 22, 2016, 5:45 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM
Are you ready for this ? HyperDrive Aircraft
September 24, 2016, 9:29 AM
Smartphone Screen Protectors – What To Look For
September 21, 2016, 9:33 AM
Latest Blog Posts
Burlington Gun Attack
Sep 27, 2016, 5:00 AM
Who is in Risk of Getting Oral Cancer?
Sep 23, 2016, 6:02 AM
France Bans Plastic Eating Utensils in Restaurants
Sep 18, 2016, 10:49 AM
Progress Against Acute Myeloid Leukemia
Sep 17, 2016, 5:30 AM
Apple Watch Series 2 - Number 1 in the Customer Satisfaction.
Sep 7, 2016, 6:19 PM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information