Google Q2 Revenue And Profit Fall Short Of Analyst Predictions
Seeking Alpha Analyst Since 2013
Originally published at www.seclive.com
Google (GOOG) announced its financial results for the second quarter of fiscal year 2013, reporting revenue and profits that increased but fell short of analyst predictions. Revenue for the quarter was $14.1B, a 19% increase from $11.8B the same quarter last year. Earnings increased 16% from $2.8B to $3.2B, with earnings per share of $9.54, $1.14 more than this quarter last year. Google's cost per click, or average ad rate, dropped 6% this quarter. Google's operating expenses increased substantially to $4.25B, a 27% increase from a year earlier. Some investors are concerned that Google is spending too much money on other projects that include balloons with internet-beaming capability as well as driverless cars, losing focus on its internet search and advertising business. Google purchased Motorola Mobility last year and the subsidiary's poor performance is impacting Google as well, with a $342M loss last quarter. Under Google's ownership, Motorola has lost a total of $1.7B and has shrunk its workforce from 20,300 last year to 4,600 this year.
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