- "Going forward, I won’t be joining every earnings call," says Larry Page on Google's (GOOG) Q3 CC. "You’re depending on me to ruthlessly prioritize." In May, Page disclosed he has vocal cord paralysis. (live blog)
- Page did take the time on this call to note YouTube now gets nearly 40% of its traffic from mobile; that's up from 25% a year ago and 6% two years ago. With the short length of most YouTube clips ideal for mobile, the platform's mobile video traffic share appears to be even larger than its PC share.
- Sales chief Nikesh Arora says Enhanced Campaigns have led to an increase in mobile search ad keyword bidding, but doesn't provide any numbers. Google ads are now responsible for driving 40M phones calls/month, twice as many as a year ago.
- Also: 1) Q3 EPS was boosted by a lower tax rate (15% vs. 24% in Q2). 2) The quarter's heavy capex ($2.29B) was due to data center construction and "opportunistic" real estate purchases. 3) Google as a hedge fund: the company earned $201M in interest income from investments in Q3, and recorded a $153M forex loss ($135M of which came from a hedging program).
- GOOG now +7.8% AH. Q3 results, details, slides.
Google highlights mobile growth on CC; Page will skip some future calls
Oct 17 2013, 17:20 ET