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Google Inc. (GOOG)

  • Jan. 30, 2014, 12:10 AM
  • Jan. 29, 2014, 5:35 PM
  • Jan. 28, 2014, 2:40 PM
    • Jefferies has upped its Google (GOOG +1.8%) PT to $1,300 from $1,150 ahead of Thursday's Q4 report. Citing ad partner data, traffic trends, and the firm's product listing ad study, the firm thinks Google's search ad business was "firing on all cylinders" in Q4. Expectations have risen a bit since Google delivered strong Q3 results in October.
    • Following up on its initial report about Google's acquisition of A.I. startup DeepMind, re/code reports DeepMind was working on at least three products: "A game with very advanced game AI, a smarter recommendation system for online commerce and something to do with images."
    • Meanwhile, an early investor gushes about DeepMind's talent. "If anyone builds something remotely resembling artificial general intelligence, this will be the team ... Think Manhattan Project for AI."
    • Google has already been investing heavily in A.I., a technology that arguably touches everything from Google Now to self-driving cars to Nest's thermostats to Boston Dynamics' robots. Google has already hired inventor/futurist Ray Kurzweil to help create a deep learning algorithm to help decipher the meanings of natural-language search queries and article texts. DeepMind's team could assist with that effort.
    • In partnership with health insurance provider VSP (previous), Google has rolled out $225 prescription glass frames that work with Google Glass. There's still no word on when Glass itself will see a full commercial launch.
    | Jan. 28, 2014, 2:40 PM | 2 Comments
  • Oct. 17, 2013, 4:24 PM
    • Google's (GOOG) ad prices (cost per click) fell 4% Q/Q and 8% Y/Y in Q3, after dropping 2% Q/Q and 6% Y/Y in Q2. However, its paid clicks rose 8% Q/Q and 26% Y/Y, an improvement from 23% Y/Y growth in Q2 and 20% in Q1. While the mobile transition (and perhaps Enhanced Campaigns) continues to pressure ad prices, it's also giving a lift to search volumes.
    • Traffic acquisition costs fell to 24% of ad revenue from 25% in Q2 and 26% a year ago. International made up 56% of revenue, up from 55% in Q2 and 53% a year ago.
    • Google Sites revenue (68% of Google segment revenue) +22% Y/Y, up from +18% in Q2. Google Network revenue (3rd-party sites, 23% of total) only +1%, down from Q2's +7% and Q1's +12%, as stricter policies continue taking a toll. Other Google Revenue (inc. Nexus hardware and search appliances, 9% of total) +85%.
    • Motorola Mobility, which launched the Moto X and new Droid models, posted revenue of $1.18B, +18% Q/Q but -34% Y/Y. The unit had a $248M op. loss.
    • Opex +9% Y/Y and accounting for 34% of revenue vs. 35% a year ago.  Capex was $2.29B, up from Q2's $1.6B. Free cash flow was $2.79B, below net income of $3.64B. Headcount rose by 1.6K to 46.4K.
    • GOOG +5.9% AH. CC at 4:30PM ET.
    • Q3 results, PR, slides
    | Oct. 17, 2013, 4:24 PM | 2 Comments
  • Oct. 17, 2013, 4:03 PM
    • Google (GOOG): Q3 EPS of $10.74 beats by $0.37.
    • Revenue of $14.89B beats by $0.05B. Shares +1.9% AH. (PR)
    | Oct. 17, 2013, 4:03 PM | 19 Comments
  • Oct. 17, 2013, 12:10 AM
  • Oct. 16, 2013, 5:35 PM
  • Jul. 19, 2013, 1:06 PM
    Compared with Microsoft, Google (GOOG -1.6%) is getting off lightly for its June quarter miss, as the sell-side argues the shortfall stems from near-term transitions - improving mobile monetization/conversions with the help of Enhanced Campaigns, enforcing stricter ad network policies - rather than long-term problems. "We've seen this before, and we're not concerned," says Jefferies (Buy) about the ad network slowdown." BMO (Market Perform) points out Enhanced Campaigns are lifting click-through rates and ROIs, particularly for "large chain businesses" such as retailers and restaurant chains. VCLK -4.1%. (Q2: I, II, III) (transcript)
    | Jul. 19, 2013, 1:06 PM | 2 Comments
  • Jul. 18, 2013, 7:15 PM
    Mobile is "clearly" having an impact on Google's (GOOG) ad prices, but it's not the only factor, management insists on the CC. 75% of AdWords campaigns now leverage Enhanced Campaigns, and 6M+ campaigns have been migrated (up from 1.5M+ in April). But sales chief Nikesh Arora admits the impact of the transition will be gradual. He also promises better data about user activity/intentions will lead to better mobile conversions (and thus higher ad prices). CFO Patrick Pichette declares profitability a requirement for Fiber, and says stricter policy terms for partners have affected Google's near-term ad network revenue growth. Shares -4.1% AH. (Q2: I, II) (live blogs: I, II)
    | Jul. 18, 2013, 7:15 PM | Comment!
  • Jul. 18, 2013, 4:29 PM
    More on Google: Ad prices remain under pressure, likely due to mobile: cost-per-click -2% Q/Q and -6% Y/Y in Q2; they fell 4% Q/Q and Y/Y in Q1. Paid clicks +4% Q/Q and +23% Y/Y, better than Q1's +3% Q/Q and +20% Y/Y. Google Sites revenue (68% of total) +18% Y/Y (same as Q1), ad network revenue (24% of total) only +7%, down from Q1's +12%. Other revenue (inc. Nexus) +138% to $1.05B. International 55% of sales (same as Q1). TAC steady at 25% of revenue. Motorola sales -4% Q/Q to $998M. Capex was $1.6B, up from Q1's $1.2B. Google headcount rose by 2.4K Q/Q to 40.2K, Motorola Mobility headcount fell by 50%+ to 4.6K. R&D spend +29% Y/Y to $2B, sales/marketing +23% to $1.7B, G&A +27% to $1.2B. GOOG -5.2% AH. (PR)
    | Jul. 18, 2013, 4:29 PM | 4 Comments
  • Jul. 18, 2013, 4:06 PM
    Google (GOOG): Q2 EPS of $9.56 misses by $1.22. Revenue (ex.-TAC) of $11.1B misses by $230M. Shares -4.5% AH. CC at 4:30PM ET (webcast). (PR)
    | Jul. 18, 2013, 4:06 PM | 24 Comments
  • Jul. 18, 2013, 12:10 AM
    Notable earnings after Thursday’s close: GOOG,MSFT, AMD, CMG, ISRG, SWKS, SYK, COF, BGS , RMBS, PBCT, CBST, ACTG, ATHN, CPHD,ALGN, CE, WAL, CYT
    | Jul. 18, 2013, 12:10 AM | Comment!
  • Jul. 17, 2013, 5:35 PM
    Notable earnings after Thursday’s close: GOOG,MSFT, AMD, CMG, ISRG, SWKS, SYK, COF, BGS , RMBS, PBCT, CBST, ACTG, ATHN, CPHD,ALGN, CE, WAL, CYT
    | Jul. 17, 2013, 5:35 PM | Comment!
  • May 22, 2013, 6:37 PM
    In its earnings call today, Hewlett-Packard (HPQ) CEO Meg Whitman remarked that its position in the PC market has been boosted by recent efforts to sell tablets powered by Google's (GOOG) Android, thus allowing it to compete in tablets again after discontinuing its Palm/webOS TouchPad in 2011. "If we have the right product and the right price, the channel still loves H-P and they want to sell our products," Whitman said. "Frankly, having Android products helps a lot." (Webcast) Shares +13.3% AH.
    | May 22, 2013, 6:37 PM | 3 Comments
  • Apr. 19, 2013, 5:16 PM
    Google (GOOG +4.4%) refused to stop rallying today, closing within a hair's breadth of $800. In addition to favorable sell-side notes, investors may have taken heart in earnings call remarks about growth being "fairly stable" across regions in the face of macro challenges. Asia is said to be Google's fastest-growing region, and recession-hit Southern Europe "remains stable." Google also noted "Other" revenue rose 27% Q/Q and 150% Y/Y to $1B thanks to Google Play, and that YouTube viewing has risen by 50% over the last year. (Q1: I, II)
    | Apr. 19, 2013, 5:16 PM | Comment!
  • Apr. 18, 2013, 4:29 PM
    More on Google: Q1 Revenue ex-TAC was $11.01B. TAC 25% of ad revenue, even with Q4. Google revenue (exc. Motorola) +22% Y/Y, even with Q4. Paid clicks +3% Q/Q and +20% Y/Y (+24% Y/Y in Q4). Cost-per-click (ad prices) -4% Q/Q and Y/Y after rising 2% Q/Q in Q4 (mobile a likely culprit). International 55% of sales (54% prior). Motorola Mobile revenue of $1.02B (-54% Y/Y), unit had a $179M operating loss. Capex of $1.2B. Free cash flow of $2.43B, below net income of $3.9B. Google headcount rose by 1.2K, Motorola Mobile headcount fell by almost as much. Opex 33% of revenue, same as Q4 and a year ago. GOOG now +0.2% AH. (PR)
    | Apr. 18, 2013, 4:29 PM | Comment!
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Company Description
Alphabet Inc through its subsidiary Google Inc is engaged in improving the ways people connect with information & productsincludingSearch, Android, YouTube, Apps, Maps & Ads. Italso producesinternet-connected home devices & provides internet services.