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Thursday, January 24, 2013

Quarterly results from Google and Motorola

Google’s quarterly results show consolidated revenues of $14.42 billion (£9.11 billion), up 36% year-on-year, while net income was $2.89 billion. Revenue from its Motorola mobile business was down to $1.51 billion; the business unit made a $353 million operating loss in the quarter.

Larry Page, Google’s CEO, said “We ended 2012 with a strong quarter. Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year – not a bad achievement in just a decade and a half. In today’s multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It’s an incredibly exciting time to be at Google.”

He also commented about Motorola, saying “I am excited about the business. In today’s multi screen world, the opportunities are endless. Think about your device. Battery life is a huge issue. You shouldn't have to worry about constantly recharging your phone. When you drop your phone, it shouldn't go splat. Everything should be a ton faster and easier. There’s real potential to invent new and better experiences. Our CEO at Motorola, Dennis, has built a world-class team, and they’re working on these opportunities. It’s still early days, but I am excited about the innovative way they’re approaching product development and the speed of their execution.”

[Google earnings statement; presentation (pdf)]

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Author: The Fonecast
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