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Google's second quarter revenue growth beat
market estimates and its share price rose in after-market close trading despite
a rise in costs.
Revenue jumped 22% to $16bn from $13.1bn a year earlier, excluding the Motorola
unit, which is in the process of being sold to China's Lenovo Group. The company
market consensus was revenue of $15.6bn, according to S&P Capital IQ.
Net income for the period, ex-Motorola, was
$3.5bn, or $5.09 a share, up 26% from the same period a year earlier.
“Google had a great quarter with revenue up 22% year on year, at $16.0bn”, said
Patrick Pichette, CFO of Google. “We are moving forward with great
product momentum and are excited to continue providing amazing user experiences,
with a view to the long term.”
Google added 2,414 employees in the quarter, to a
total of 48,584 ex-Motorola while capex (capital spending) on data centres and
property rose to $2.6bn, or 17% of revenue, compared with $1.6bn, or 12% of
revenue, in the prior year period.
Google shares rose 1.4% in after-hours trading
Revenues from outside of the United States
totaled $9.33bn, representing 58% of total revenues in the second quarter of
2014, compared to 57% in the first quarter of 2014 and 55% in the second quarter
Revenues from the United Kingdom totaled $1.62bn, representing 10% of total
revenues in the second quarter of 2014, compared to 10% in the second quarter of
As of June 30, 2014, cash, cash equivalents, and
marketable securities were $61.20bn, which excludes cash classified as held for
sale, compared to $58.72bn as of December 31, 2013.
The price paid by advertisers for each user click
fell 6% from the year-ago quarter, mainly because of the shift to increased
mobile advertising. This trend has been evident for two years. However, Google
does not separate mobile ad revenue from desktop ad revenue.