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Friday, October 19, 2012

Google quarterly results show revenue up but profits down

Google published its quarterly results yesterday, revealing a drop in quarterly profits. There was also embarrassment when a draft version of the results was published early.

Third quarter revenue was up year-on-year to $14.1 billion (£8.8 billion) although net income fell by around 20% to $2.18 billion from the previous year’s figure. UK revenue was $1.2 billion.

Larry Page, Google’s CEO, said “We had a strong quarter. Revenue was up 45% year-on-year, and, at just fourteen years old, we cleared our first $14 billion revenue quarter. I am also really excited about the progress we’re making creating a beautifully simple, intuitive Google experience across all devices.”

Revenue from Motorola Mobility was $1.78 billion from the mobile segment and $797 million from the home segment; a total of $2.58 billion (18% of Google’s consolidated revenues).

A press event scheduled for 29th October is expected to reveal details of at least one new device running the Android operating system, although current rumours are suggesting an LG or HTC handset rather than a Motorola device.

[Results presentation (pdf)]

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Author: The Fonecast
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