Stock in News: Google (NASDAQ GOOG) Posts Earnings Report

Technology Stocks News 3

Google Inc (NASDAQ GOOG) released the results from its most recently completed quarter after closing bell, posting adjusted earnings of $6.35 per share, compared to $5.63 per share last year, on consolidated revenue of $16.52 billion, a 20% year over year increase. Analysts had been expecting the search giant to report earnings of $6.54 per share on $13.2 billion in revenue.

GAAP earnings per share were $4.09, compared to $4.38 per share in the same quarter a year ago. GAAP operating income was $3.72 billion, while non-GAAP operating income was $5.36 billion. GAAP net income was $2.81 billion, compared to $2.97 billion last year, while non-GAAP net income was $4.37 billion, compared to $3.82 billion last year.

Google reported Sites revenues of $11.25 billion, which were 68% of the search giant’s total revenues. That’s a 20% year over year increase Network revenues were $3.43 billion or 21% of the company’s total revenues. The segment’s revenue rose 9% year over year. Other revenues totaled 11% of total revenue or $1.84 billion, which is a 50% year over year increase.

Google Inc (NASDAQ GOOG) News: Google Performs

The search giant reported a 17% increase in aggregate paid clicks. Average cost per click fell by about 2% year over year but was flat with the previous quarter. Traffic acquisition costs rose to $3.35 billion in the third quarter, making up 23% of Google’s ad revenues. Other cost of revenues rose to $3.35 billion or 20% of revenues. Operating expenses were $6.1 billion in the quarter, making up 37% of total revenues compared to $4.58 billion in the same quarter a year ago.

Net loss from discontinued operations was $185 million, compared to $193 million in the same quarter a year ago. That loss continued a $26 million pretax adjustment in connection with some revenue deferrals for the Motorola Mobility segment, which Google is selling to Lenovo.

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Google Inc Financial News (NASDAQ GOOG)

Google reported $2.42 billion in capital expenditures for the quarter. The company also had $62.19 billion in cash and cash equivalents.

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