Google Misses Wall Street Earnings, Revenue Expectations for Q2 2013
July 19, 2013 9:44 AM
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).
"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation
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
Amazon Airborne Fulfillment Center – Your Merchandise Drop-Shipped from the Clouds
December 29, 2016, 5:00 AM
Amazon is experimenting with a new kind of grocery stores, Amazon Go
December 8, 2016, 5:00 AM
Google has developed Deep Learning Algorithm to detect Diabetic Eye Disease
December 4, 2016, 5:00 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
Most Popular Articles
OPPO R9 – The Smartphone with Excellent Camera and Long Battery Life
January 12, 2017, 12:01 AM
Are you in the market for a private antenna?
January 11, 2017, 12:01 AM
Comparison: Xiaomi Mi Mix Vs. HTC U Ultra
January 14, 2017, 12:10 AM
Super Hi- Vision Will Amaze the World
January 16, 2017, 9:53 AM
Huawei P10 Smartphone – Coming this Spring
January 11, 2017, 12:01 AM
Latest Blog Posts
News of the Day Wednesday 1/18/2017
Jan 18, 2017, 12:01 AM
Jan 17, 2017, 12:16 AM
News of the Day
Jan 16, 2017, 12:10 PM
News and Technology Advancement
Jan 16, 2017, 7:58 AM
Jan 15, 2017, 12:32 AM
Here is Some News
Jan 14, 2017, 12:39 AM
News: Improved and New products
Jan 13, 2017, 12:01 AM
News around the world
Jan 12, 2017, 12:01 AM
Rumors and Announcements
Jan 11, 2017, 12:01 AM
This year CES and ridiculous gadgets
Jan 10, 2017, 12:01 AM
Nokia Android phone spurns the west.
Jan 9, 2017, 12:08 AM
New at CES 2017 - Changhong 8K Super Slim TV 65ZHQ3R
Jan 8, 2017, 1:07 AM
Debuted at CES 2017 - Vuzix Blade 3000 Smart Sunglasses
Jan 8, 2017, 12:39 AM
Some news of Day
Jan 7, 2017, 12:01 AM
News 2017 CES
Jan 6, 2017, 12:01 AM
Here is the Latest News in Tech
Jan 5, 2017, 1:47 AM
AI Beats World’s Best at Chinese board game “Go”
Jan 4, 2017, 11:21 AM
Las Vegas 2017 CES
Jan 3, 2017, 12:01 AM
News of Jan 2nd 2017
Jan 2, 2017, 4:40 AM
More Blog Posts
Copyright 2017 DailyTech LLC. -
Terms, Conditions & Privacy Information