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News : Innovation Last Updated: Jul 18, 2014 - 11:31 AM

Google's second quarter revenue growth beat market estimates
By Finfacts Team
Jul 18, 2014 - 8:44 AM

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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 Thursday.

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 of 2013.

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 2013.

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.

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