Google released its Q1 2013 results on Thursday, beating earnings per share estimates but falling short of its expected revenue mark.
The search, commerce and technology giant posted non-GAAP earnings of $11.58 per share and net income of $3.35 billion, beating analyst estimates of $10.68 per share.
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Google’s revenue for the quarter came in at $14 billion – a 31 percent hike from Q1 2012 – but analysts were expecting $14.3 billion.
“We had a very strong start to 2013, with $14.0 billion in revenue, up 31% year-on-year,” said Larry Page, CEO of Google in a company release. “We are working hard and investing in our products that aim to improve billions of people’s lives all around the world.”
As VentureBeat notes (http://venturebeat.com/2013/04/18/google-earnings/), nearly $13 billion – or around 93 percent – of Google’s revenue came from online, search and display ads. Motorola Mobile accounted for $1.02 billion in revenue – nearly equal to the remaining 7 percent equaling Google’s $14 million mark. Motorola posted a GAAP loss of 27 percent and a non-GAAP loss of 18 percent for the quarter. Google acquired Motorola for $12 billion in August 2012.
Google has $50.1 billion in cash, cash equivalents and marketable securities as Q2 begins.
Read Google’s official release here.
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