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.
"A lot of people pay zero for the cellphone ... That's what it's worth." -- Apple Chief Operating Officer Timothy Cook
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
Vine Users No Longer Allowed to Post Pornographic Videos
March 7, 2014, 1:47 PM
Facebook Launches Slightly Tweaked News Feed
March 7, 2014, 9:03 AM
Target Chief Information Officer Resigns in Wake of Holiday Data Breach
March 6, 2014, 2:01 PM
Quick Note: Yahoo to Require Users of its Services to Have Yahoo IDs
March 5, 2014, 4:55 PM
Ellen DeGeneres' Star-studded "Selfie" Briefly Crashes Twitter During Oscar Broadcast
March 3, 2014, 8:27 AM
Comcast Deal May See Netflix Start Paying Verizon, AT&T
February 25, 2014, 9:29 AM
Most Popular Articles
Bitcoin King: Mt. Gox CEO Mark Karpelès' History of Arrests, Firings
March 5, 2014, 9:05 AM
USAF Moves Forward With Long Range Bomber Program Despite Budget Crunch
March 4, 2014, 9:44 AM
Two More Microsoft Executives Leaving the Company
March 3, 2014, 4:38 PM
UPDATE: Apple's iOS Comes to Your Car via CarPlay Infotainment System, iPhone 5 and up Supported
March 3, 2014, 3:28 PM
Apple Won't Let UK Sons Unlock Their Deceased Mother's iPad
March 6, 2014, 12:44 PM
Latest Blog Posts
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information